Arrest made on accused by the CBI

Praveen Samuel

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Karimnagar: The detectives of the Central Bureau of Investigation (CBI) arrested a currency chest manager of The Union Bank of India for allegedly defrauding the bank to the tune of more than Rs.12 crore from the main branch in Karimnagar town on Thursday. Police said the accused; Suresh Kumar reportedly collected cash from the Hyderabad bank chest and delivered the same to his acquaintances in Hyderabad. The amount involved is over Rs.12 crore. In October 2018, he collected Rs.5 crore, and in February 2019, he had collected Rs.7 crore and handed it over to two persons in Hyderabad.

The financial fraud had been committed already by the accused but as the bi-monthly audit was in process on Wednesday evening, the fraud came to the notice of the bank officials. Many high-ranking officials from the UBI Hyderabad branch made a visit to the Karimnagar main branch, made inquiries about the details and lodged a complaint with Karimnagar one town police.

The accused had a history of committing fraud while working in the UBI Mahadevpur branch and he was given reversion and posted at UBI Karimnagar main branch. On receiving the complaint, the Karimnagar police conducted a preliminary investigation and handed over the case to the CBI as the fraud was to the tune of Rs.12 crore. The Local police is not permitted to investigate bank fraud cases if the amount involved is more than Rs.3 crore.

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