State Bank Of India Employee Nabbed By CBI

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AHMEDABAD, INDIA (GaeaTimes.com)- In a shocking development the Central Bureau of Investigation arrested Tulsi P. Ladani who is the employee of State Bank of India’s Kutiyana Branch at Porbandar for misappropriation of funds. The Bank assistant allegedly was involved in a scam worth INR 5.24 crore. Owing to his misappropriation almost 259 savings accounts holders in the branch of SBI have been affected as it has been reported. The CBI registered a case on September 29th on him and some others involved in this scam. He deceived the customers of the bank who are mostly semi literate or illiterate for 6 years. He mishandled the money deposited by those customers and the money was never credited in the savings accounts in reality. The customers were duped into thinking that their money was safe.

The State Bank of India employee also made entries in passbook in handwriting instead of doing so with computer. He allegedly is a master in faking signature and in some of the cases withdrew money using forged signature from the accounts. He also played foul with Term Deposit Receipts and siphoned the amounts. Amazing as it may seem to many he misappropriated INR 5.24 crore over the years through numerous fraudulent transactions. He manged to keep the bank management in dark for a very long time.

The State Bank of India employee was absconding for some time. The development has left SBI red faced as it was not detected for several years. SBI decided to handover the case to CBI since the amount of fraud is much more than INR 1 crore as per its rules.