CBI Registers a Case Against an Official of SBI for Causing an Alleged Loss of Rs. 7.07 Crore (Approx.) To Bank and Conducts Searches
(Judicial Quest News Network)
The Central Bureau of Investigation has registered a case against an official (Award Staff & Cash-in-Charge), State Bank of India, Sakhinetipalli Branch, East Godavari District (Andhra Pradesh); on the allegations that the accused used to create Gold Loans in CBS without having pledged, required gold ornaments. It was further alleged that during the period between 30.12.2016 & 22.01.2021, he credited the loan amounts to 319 Saving Bank accounts of 246 members, involving an amount of Rs. 669 lakhs (approx.), where gold loan bags were not traceable. In 37 cases, the Gold Loans sanctioned were more than the value of the gold ornaments amounting to Rs. 38 lakhs (approx.). It was thus alleged that the accused had fraudulently created Gold Loan accounts in the name of several persons and caused loss of Rs. 7.07 crore (approx.) to the Bank.
Searches were conducted at the office & residential premises of the accused & others at 3 places located in Andhra Pradesh which led to recovery of incriminating documents. Investigation is continuing.
