Syndicate Bank Manager who was arrested on Wednesday by Karkala Police on the charges of misappropriating cash, was remanded for 15 days judicial custody by the Court.
Suresh K P was working as the Manager in Bhuvanendra Branch of Syndicate Bank. He has embezzled public asset amounting to Rs 13.84 lakhs from October 26, 2010 till date.
He has allegedly opened fake accounts, sanctioned loans under fictitious names and also drawn money from ATMs.
He would transfer money from unclear bills and cheques to the fake accounts that he has created and from there the funds were transferred to his account.
He has created fake accounts in the name of Akshata Pai, Vinodh Shetty, Chayya and Chikanna.
Interestingly, recently he has submitted his thesis to Bangalore University and was a meritorious student all through his student career, police said.
Karkala police have initiated legal action following the complaint lodged by Syndicate Bank Regional Office Deputy Manager R Subramani.
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