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Bank scam unearthed, manager held

Thu 04th Mar 2010 03:51 AM
Bank scam unearthed, manager held
Bank scam unearthed, manager held

A sensational scam to the tune of Rs 23.50 lakh at the Andhra Bank branch in Ramakrishnapuram here has come to light on Thursday. Several bank officials and the manager himself are suspected to have colluded in the scam involving lakhs of rupees which are missing from the bank's coffers. 

The internal auditors who were inspecting the bank's books suddenly stumbled upon several irregularities in the maintenance of accounts and the officials were unable to account for the loss of Rs 23.50 lakh from the registers. 

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The audit staff later lodged a complaint against the Andhra Bank manager at the Saroornagar police station in the day. Soon, the police arrested the bank manager and began the investigations.