11 staffers booked for Rs 2.86 cr scam in Adilabad’s DCCB Bank

Adilabad: As many as 15 persons including 11 staffers of District Cooperative Central Bank (DCCB) were booked for allegedly involving in the sensational scam of Rs 2.86 crore from Bhela branch of the bank recently. Bhela Inspector M Naresh Kumar said that a case was registered against 15 persons including 11 staffers of Bhela branch […]

Adilabad: As many as 15 persons including 11 staffers of District Cooperative Central Bank (DCCB) were booked for allegedly involving in the sensational scam of Rs 2.86 crore from Bhela branch of the bank recently. Bhela Inspector M Naresh Kumar said that a case was registered against 15 persons including 11 staffers of Bhela branch of the bank under the Sections 420 (cheating), 406 (criminal breach of trust) and 409 (Criminal breach of trust by a banker) of the Indian Penal Code and investigations were taken up. Srinivas, general manager of the branch lodged a complaint with police on Sunday.

Eleven staffers of the bank were already placed under suspension for their role in illegal withdrawal of the funds. Their accounts were frozen and Rs 50 lakh were recovered from them. The suspended staffers were P Sripath Kumar, Y Ranitha, T Rajeshwar, A Rahul, B Ramesh, B Praveen, B Venugopal, K Ramesh Kumar, and M Savita, according to DCCB Chief Executive Officer K Sridhar Reddy.

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S Praveen and M Nithin were working in Adilabad main branch. Sripath Kumar and other staffers were found to have fraudulently transferred funds into accounts of their relatives and then into their own accounts in a primary inquiry conducted by the bank officials. The accounts into which the funds were siphoned were frozen and relevant evidence was being gathered. Sripath was reportedly the mastermind of the scam.

It is learned that a union leader of the bank and top official working with the main branch of the bank in Adilabad backed Sripath in committing the offence. “Sripath was able to divert the funds with the help of a leader of the union and a top official. He misguided officials of auditing citing technical glitches in the server of the bank for quite a long time,” a source told ‘Telangana Today.’

On the other hand, the staffers of DCCB are able to indulge in the scams with the accused persons in similar offences have not been punished. The offenders are repaying the amount that they illegally withdraw and they are getting off scot-free. The higher authorities of the bank are focusing on recovery of the funds rather than punishment.