Kothagudem: Police arrested three employees of Bhadradri Co-operative Urban Bank in connection with the misappropriation of bank funds and recovered Rs 1.44 crore from them.
Superintendent of Police Sunil Dutt, addressing a media conference at Manugur in the district on Wednesday, said bank CEO B Samba Murthy had lodged a complaint with Manugur police on Aug 28 accusing four employees of the bank of misappropriating the funds worth Rs 1.86 crore.
Based on the complaint, a case was registered under IPC Sections 409 (criminal breach of trust), 420 (Cheating), and 120 (b) (Criminal conspiracy) against bank manager Pandhula Ramu, Assistant Manager Shaik Akbar, cashier Chittapogu Rama Rao and attender Ganiboina Ravindra Kumar and launched an investigation into the case.
During the investigations, the bank authorities said they had conducted a detailed inquiry and submitted a report stating that an amount of Rs 2.91 crore was misappropriated by the accused employees.
On Sep 8, Ramu was arrested and sent to judicial custody. The remaining three accused, Akbar, Rama Rao and Ravindra Kumar were arrested on Wednesday and they will be produced before the court, the SP informed.
Dutt revealed that during the course of interrogation, the accused revealed that for the past two years, they were involved in withholding the cash deposits and utilising the amount for their personal use. The accused collaborated for misappropriation of the bank funds by cooking the books, he added. Manugur ASP Shabarish P, CI Bhanu Prakash and SI Naresh were present.
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