Cash custodian absconds with Rs 5 lakh

Cash custodian absconds with Rs 5 lakh

Cash custodian absconds  with Rs 5 lakh

The KR Puram police are on the lookout for a cash custodian of a private cash management company who is on the run since January 13 with Rs 5 lakh which he was supposed to deposit in a bank.

According to police, Chandrashekhar had joined CMS Infosystems as a cash custodian a few months ago. On January 13, he carried Rs 5 lakh to be deposited in a bank in KR Puram, but went missing with the money. The bank officials lodged a complaint on January 17 after they found that his house was locked and he was absconding with his family.

Usually, the company would send the cash in a van with armed guards and staff members. Since the amount to be carried to the bank was small, Chandrashekhar volunteered to take it on his bike, but went missing since then, the police said, quoting the complaint. When Chandrashekhar failed to return to work even after four days, the management decided to lodge a complaint with the KR Puram police.

During an audit of cash transactions, it was found out that Chandrashekhar had been stealing some money out of the cash meant to be deposited in ATMs of KR Puram, since January 5. “We have some leads and efforts are on to trace him,” a senior police officer said.
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