CBI begins probe into East Godavari SBI gold loan scam
Cash in-charge and 4 together with former BMs and SMs are concerned within the Rs.7.07 crore scam, cash was diverted to the 319 financial savings accounts
The Central Bureau of Investigation (CBI-Visakhapatnam) has intensified the investigation into the alleged gold loan fraud value Rs.7.07 crore within the State Bank of India’s Sakhinetiaplli department in East Godavari district on Thursday.
The CBI crew led by Investigation Officer Mr. Manohar Reddy on Thursday performed the raids on the focused places together with the homes of SBI employees of the Sakhinetipalli department.
According to the FIR registered by the CBI-Visakhapatnam on June 21, Cash In-Charge Rapaka Venkata Ramana Murthy has reportedly credited Rs.6.69 crore cash into the 319 financial savings accounts by creating pretend gold loans with out the pledged gold. In the case of 37 gold loan accounts, he has additionally sanctioned the gold loan past the price of the pledged gold ornaments.
“The petitioner, A.Nageswara Rao, Branch Manager (Regional Business Office-Rajamahendravaram), has stated that the bank’s internal investigation has unearthed the Rs.7.07 crore gold loan scandal in May”, in accordance the CBI FIR. The scandal interval was between December 2016 and January 2021.
The CBI has registered a case towards Mr. R.Venkata Ramana Murthy on the costs of felony conspiracy, forgery, and breach of belief.
The SBI has additionally initiated departmental motion towards the 4 different employees recognized as Branch Managers K. Paramesh and K. Koshore Kumar, and Service Managers – V. Kameswari and S.Veera Venkata Ramana – for his or her function within the scandal.