2 cash custodians arrested for stealing Rs 43 lakh

The city police has arrested two cash custodians who made away with almost Rs 43 lakh on various occassions on their job. They were responsible to fill cash in various ATMs across the city.

The arrested are Madhu (29), a native of Mandya and Sunil Kumar (25), a resident of K R Pete. The police have recovered Rs 2.5 lakh from them. Based on a complaint lodged by a staff working with Secure Value, a cash management firm on Hosur road, the Madiwala police registered a case on July 22 and began investigating.

The police found out that the misappropriation took place over a period of a year and a half. The duo used to take away the cash using the same codes and passwords that they used for filling the cash in the ATMs.

"The accused did not take away lump sum cash from any ATMs, but took little by little from various ATMs on different occasions," said a senior police officer.

The Secure Value company conducted an audit recently and discovered that Rs 43 lakh was missing and suspected the two staff's hand in it.

When the company began an internal inquiry of the incident, the two men stopped coming to work, prompting the company staff to lodge a police complaint. "The two confessed to the police that they spent the money on living a lavish life like availing escort services, betting and parties with their friends," added the officer.

Further investigations are underway.