NALGONDA: A bank housekeeping employee, a branch manager and two accomplices have been arrested for allegedly embezzling Rs 2.65 crore from inactive accounts at the State Bank of India (SBI) Agricultural Commercial Branch in Devarakonda. Police recovered Rs 2.42 crore in cash.
Addressing a press conference on Tuesday, SP Sharat Chandra Pawar said contract employee Lendala Chakrapani, Suryapet SBI manager Putta Venkata Ramanjaneyulu and two accomplices were arrested.
Chakrapani, who worked at the branch for five years, gained extensive knowledge of its internal systems by assisting staff with his computer skills. To overcome financial difficulties, he conspired with Ramanjaneyulu, who used his administrative access to the MIS system to identify 10 inactive accounts and share their details, the SP said.
The accused created fake identity cards in the names of account holders and secretly obtained staff login credentials during peak hours. They linked new mobile numbers to the accounts and diverted funds through the YONO app to other bank accounts.
The SP added that recovery agent Kethavath Ramlal and photographer Marepally Shiva assisted in the offence by persuading acquaintances to allow use of their bank accounts in return for commissions. The group embezzled Rs 2,65,55,268 in total.
The fraud came to light when Hyderabad-based account holder Pallati Narender received a KYC update. After he approached the bank, branch manager Phanindra identified the fraud and lodged a complaint.
Police used technical evidence to track and arrest the accused. The accused have been booked under relevant sections and remanded to judicial custody.