Bank manager swindles 1.5 cr

Adilabad: A branch manager of the Union Bank of India in Mancherial town allegedly swindled Rs 1.5 crore by creating forged documents in the names of 15 persons stating that they had availed loan from the bank. It is learnt that he took the help of some brokers to deceive the bank. Fraud came to light about 10 days ago when four teachers working in Dandepally and Jannaram mandals received notices from the bank asking them to repay loans with interest.

Alarmed on receiving notices, the teachers approached the bank. Officials showed them documents that 15 persons had availed Rs 1.5 crore as loan from the Union Bank of India by pledging a building located in Jannaram town as surety. In the documents, it was written that the bank had sanctioned Rs 12 lakh for each person. It is learnt that 11 others also received notices from the bank. The victims immediately approached a district police official requesting him to order a probe and render justice to them. A teacher, A Devayya, said he was not aware of the location of the bank in Mancherial town. He said his family members were going through mental agony after bank officials served notice to him.