New Delhi: A massive bank fraud has been uncovered in State Bank of India (SBI) Chennur branch in Telangana district.
The cashier of SBI Chennur branch in Telangana’s Mancherial district has allegedly misappropriated funds of customers to the tune of over Rs 14 crore.
As per media reports, an audit conducted on August 21 and 22 found the massive misappropriation of assets and cash in the SBI branch. The cashier of the branch has allegedly siphoned off 20 kg of gold ornaments (worth Rs 13 crore) and Rs 1.1 crore in cash.
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Customers of the bank staged protest at the branch and demanded that their hard earned money and assets be returned. Reports stated that gold from 440 loan account holders have been stolen.
The accused, who is the cashier of the branch, reportedly made plans regarding the scam over last 10 months before finally implementing his plan. He allegedly made secret accounts of his family members and relatives to transfer the funds and golds from the account of SBI genuine customers.
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