7 dupe bank of Rs 1.53 cr

Arrested for furnishing fake documents for money transfer

 
On December 21, 2009, S Shivanand Pai (55) and Vijayakumar (39) of Yelahanka New Town came to SBI, St Mark's Road branch with Komal (54) of Someshwarnagar, Yelahanka New Town, impersonating one Gayathri, in whose name a FD account of Rs 1.70 crore was maintained.

Komal applied for transferring the sum to her account with State Bank of India, Shivaram Karanth Nagar Branch, Amrutahalli and sought a loan of Rs 1.53 crore by submitting the Gayathri’s FD bonds.

The bank readily accepted the application as the bonds submitted were "original" and stolen from the holder's house, the police said.

Out of the total amount, Rs one crore was transferred to the account of Automac Engineers Company, owned by Shivanand Pai and the remaining Rs 53 lakh was moved to the account of Vismaya Impex, a company owned by Vijayakumar, through Real Time Gross Settlement (RTGS), a system of transferring funds.

Later, the bank grew suspicious of the transaction and YP Nagaraj, manager, SBI Shivaram Karanth Nagar Branch, Amrutahalli, filed a complaint under sections 419, 465, 468, 470, 471 and 420 of IPC.

The police arrested all the three accused as well as Meenkashi (48) of Bhuvaneshwarinagar, K Srinivas (46) of Mahalakshmi Layout, Prasad alias Muniraju (28) of Jayanagar and Nagaraj (27) of Hebbal Kempapura on the charges of abetting the crime.

The police also recovered Rs 1,49,31,444 from the suspects along with five FD bonds, fake documents and seals.

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