Jagtial: Rs 1 cr scam in Union Bank of India Chelgal branch

Jagtial: Misappropriation of funds to the tune of about Rs 1.15 crore has been detected in the Union Bank of India branch in Chalgal, where the bank staff had allegedly withdrawn the money by creating fake bank accounts. Though the scam took place some time ago, it came to light when the branch manager lodged […]

Jagtial: Misappropriation of funds to the tune of about Rs 1.15 crore has been detected in the Union Bank of India branch in Chalgal, where the bank staff had allegedly withdrawn the money by creating fake bank accounts.

Though the scam took place some time ago, it came to light when the branch manager lodged a complaint with police recently.

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According to police, Suman, who earlier worked as branch manager, with the help of clerk Rajesh opened about 40 to 60 bank accounts in the name of some women, farmers and women self-help groups without their notice and withdrew Rs 1.15 crore in the guise of sanctioning loans to them. Later, they got transferred to other branches.

The new branch manager Mothilal, who took charge recently, found irregularities in the bank’s transactions. Besides alerting higher officials, he lodged a complaint with the police.

Bank officials have suspended former manager Suman and clerk Rajesh. The police registered a case and began investigation.

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