Bank Fraud in Telangana, Money Goes Missing From Depositors

Hyderabad: Close on the heels of Punjab National Bank's fraud, another bank in Telangana is under the radar as the CBI registered a case on charges of misappropriation of funds. 

Depositors of Telangana Grameen Bank at Aziz Nagar in Moinabad, on the city outskirts, lodged a complaint with the bank manager alleging that the money - cash deposits, fixed deposits have gone missing from their accounts. 

Total of Rs 9 crores have been swindled by the bank officials. The CBI team took registered slapped cases against as many as 10 officials in the bank. The main accused in the case is identified as Jaipal Reddy, who works as office assistant in the bank. 

Based on a complaint from the bank manager Ravinder Reddy, the CBI officials visited the branch and secured details. The cases have been registered against J Mosses, K Lakshminarsaiah, K Chandraiah, G Srinivas Rao, Rajanna, VVJ Ramarao, accountant C Guruprasad, temporary sweeper Srinivas Reddy and several outside persons are said to be involved in the case.