Andhra Bank cashier pockets `1.71 crore
The Central Bureau of Investigation has registered a case against an official of the Andhra Bank, Cheepurpalli Branch, in Vizianagaram for cheating and duping the bank of `1.71 crore.
According to CBI officials, the case was registered against V. Santoshi Ramu, clerk-cumcashier of the bank between July 2015 and July 2017. During his tenure, he misappropriated money deposited by the Cheepururpalli Rural Electric Cooperative Society Limited (CRECS).
The CRECS collects cash from electricity consumers on behalf of the AP Eastern Power Distribution Company Limited (APEPDCL).
The society would deposit the money collected for electricity consumption charges into its account and the bank was supposed to give an electronic receipt soon after the deposit was made and simultaneously make an entry in the records.
“Instead of obtaining the electronic receipt, the society requested for a manual receipt for cash deposits as it claimed that the ink on the electronic receipt would fade away and this would make reconciliation difficult.” said Mr S.B. Sankar, superintendent of police, CBI, Visakhapatnam.
Cashing in on the opportunity, Santoshi Ramu, between January and July 2017 misappropriated `1,71,41,162 deposited by CRECS in 167 instances. He also falsified the accounts of the branch. In 133 instances, the society deposited an amount of `64,45,580 but Santoshi credited the amount on later dates.
The CBI registered a case under various Sections of the IPC and PC Act, 1988 against him.