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Telangana: Online betting addict swindles Rs 2.85 crore from bank, held

Adilabad: A staffer of District Cooperative Central Bank (DCCB) was arrested on charges of his involvement in a sensational scam of Rs 2.85 crore of Bhela branch. Giving the details of the arrests to pressmen here on Saturday, Adilabad SP D Uday Kumar Reddy said that the accused person was Sripath Kumar, a clerk of […]

By Telangana Today

Published Date - 19 March 2022, 06:42 PM

Telangana: Online betting addict swindles Rs 2.85 crore from bank, held — Representational Image

Adilabad: A staffer of District Cooperative Central Bank (DCCB) was arrested on charges of his involvement in a sensational scam of Rs 2.85 crore of Bhela branch. Giving the details of the arrests to pressmen here on Saturday, Adilabad SP D Uday Kumar Reddy said that the accused person was Sripath Kumar, a clerk of DCCB Bhela Branch and the kingpin of the scam.

On being interrogated, Sripath Kumar confessed to committing the offence as he was addicted to online betting. He admitted that he created vouchers in the name of Primary Agriculture Cooperative Societies of Doptala and Bhela to withdraw the funds. He revealed that he had fraudulently drawn funds from the branch using login Id and passwords of manager and assistant manager.

The clerk further confessed that he diverted the funds Rs 2.85 crore to fake accounts of his wife Himabindu, sister-in-law Divya, brother-in-law Narayana and mother-in-law Radha in a phased manner. He disclosed that he had used Rs 20 lakh for luxuries. His colleague and another accused staffer spent Rs 26 lakh for leading a lavish lifestyle.

Uday Kumar stated that Sripath lost Rs 1.40 crore by investing on a wide range of online betting platforms. He informed that police recovered Rs 98.11 lakh from Sripath, his family members and other staffers who were involved in the scam so far. He urged the youngsters not to get addicted to luxuries and to spoil lives. Adilabad DSP NSV Venkateshwar Rao, Jainath Inspector K Naresh Kumar, Special Branch Inspector K Krishna Murthy, Sub-Inspector Anwar-Ul-Huq, Bhela SI Krishna Kumar were present.

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