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Nalgonda Bank official embezzles 2.86 cr by creating fake SHGs
In what could be termed as a broad daylight robbery, a field officer of Andhra Pradesh Grameena Vikas Bank of Miryalaguda branch embezzeled Rs 2.86 crore by creating fake women Self Help Groups.
Nalgonda: In what could be termed as a broad daylight robbery, a field officer of Andhra Pradesh Grameena Vikas Bank of Miryalaguda branch embezzeled Rs 2.86 crore by creating fake women Self Help Groups.
According to sources, Santosh, the kingpin of the scam, has been working as field officer for the last three-and-a-half years. Being adept in computer operations, he used to address technical issues whenever it was needed, and gained the confidence of bank officials.
Using his knowledge, Santosh hatched a plan to embezzle the money and created fake women Self Help Groups (SHGs). In this connection, he downloaded the Aadhaar card details of some women and opened bank accounts in the name of his family members and close associates with those Aadhaar details.
Soon, he started sanctioning loans to fake SHGs. To make his work easy, he hacked the IDs of Bank Manager and also other staff. He has been carrying out the misdeeds since March this year.
The entire scam came to light when one woman who received a message from the bank stating that she was sanctioned a loan under the SHG scheme approached the bank. She confirmed that she was not a member of any such group and further asked the bank staff how she got a loan without having an account in their bank.
Shocked officials soon cross checked the complaint of the woman and realised the scam. Soon, the bank constituted a vigilance team to probe the issue. Meanwhile, the bank officials reportedly suspended six employees of the bank including the Bank Manager in this connection.
Further on Monday, bank’s in-charge manager lodged a complaint with Mirylaguda Two Town CI Sai Eshwar Goud against Manager Srinivas and Santosh. Meanwhile, Santosh has been absconding since the scam came to light.