Cash custodian stole Rs 1 cr from ATMs in 5 years: cops

A man hired by a cash management firm to replenish ATMs in the city stole a whopping Rs 1 crore over almost five years by hoodwinking security checks and audits, the police have said.

Shivakumar, of JP Nagar, worked for the firm from March 2013 until last October when his luck ran out and the firm suspected him as Rs 42 lakh had gone missing. The firm filed a complaint with the jurisdictional Kumaraswamy Layout police who arrested him on Friday.

During the interrogation, Shivakumar not only admitted to having stolen Rs 1 crore in the past few years but also explained his modus operandi and how he had manipulated the records.

He was responsible for visiting different ATMs and replenishing them with cash. He would, however, deposit only 80% of the cash and pocket the rest. He would then manipulate the records by mentioning that he had deposited the cash in full.

Being in charge of cash deposits, Shivakumar knew the password and had the keys using which he would withdraw the cash whenever he wanted. Though the firm would get to know of discrepancies in cash transactions during annual audits, it did not presume the quantum would be this big. Although every ATM has CCTV cameras, the firm did not suspect him at all, a senior police officer said. Kumar would lend the stolen money to his friends and relatives and recover it in small amounts for his personal expenses whenever required, the police said.

Based on his confessions, the police recovered Rs 91 lakh from his relatives and friends while Kumar said he had spent the rest. "We are probing further to ascertain the involvement of others," a senior police officer said.

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