Guntur: Karempudi SBI Employee Siphons Off One Crore For Cricket Betting

GUNTUR: Right after a bank fraud case was unearthed in the State Bank of India (SBI) Venkatagiri branch in Nellore district, another case came to light recently in the SBI branch at Karampudi in Guntur district. As per reports, a Gold Loan officer named Seva Naik had embezzled around Rs 1 crore from the bank money meant for depositing in the ATMs.

As per details on the fourth of this month, the SBI bank's chief manager was alerted about the cash flow which was being diverted to a fake account. He informed the bank vigilance authorities and the regional office officials who conducted a thorough probe about the money being siphoned off. For the past three months, Seva Naik has been diverting some of the cash taken from the bank to be put in the bank's ATMs machines into this account.

It is reported that the accused was addicted to cricket betting and was in need of money. After the fraud was confirmed the SBI officials ensured that there was no inconvenience to the customers and suspended Seva Naik.  The bank officials, however, remained tight-lipped about the incident.

Also Read: Venkatagiri SBI Employee Held for Borrowing Loans Against Customers' FDs