11 staffers of DCCB bank suspended for scam of Rs 2.86 cr

Adilabad: In a case of fence eating the crop, eleven staffers including four managers were suspended for their alleged involvement in a Rs 2.86 crore scam at a branch of the District Cooperative Central Bank (DCCB) bank in Bhela mandal centre on Thursday.

DCCB Chief Executive Officer K Sridhar Reddy said 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.

S Praveen and M Nithin were working in Adilabad main branch. Sripath Kumar and other staffers were found to have fraudulently transferring 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.

Sridhar Reddy said a complaint would be lodged with the Crime Investigation Department (CID) since the scam involved more than Rs 1 lakh in a day or two. The bank officials realized that the funds were illegally diverted to various accounts during an annual audit carried out recently by the management of the bank.

 

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