SBI Malpe Branch Fraud of Rs 75 Lakhs: Case Filed Against Manager and Several Account Holders
Malpe: A significant case of fraud, amounting to Rs 73 lakhs, has been registered with the Malpe police against the Malpe branch of the State Bank of India (SBI). The alleged scheme involves the creation of falsified documents to illicitly transfer and misappropriate a substantial sum of money. Implicated in the case are the branch manager and several account holders of the aforementioned SBI branch.
The investigation was initiated following an email received by the SBI from a housing finance company, which revealed that a total of Rs 73,00,000 had been transferred from the SBI’s Malpe branch to the accounts of the following individuals: Samud Suvarna (resident of Nanthoor), Sharmila S. (resident of Muloor), Sushanth Tingalaya (resident of Kodi), M. Ramanath (resident of Bondel, Mangalore), and Sadananda G. Rao (resident of Kunjalu).
On August 25th, the SBI’s Mumbai branch contacted Rajesh Ganapathi, the Malpe branch manager, to seek clarification regarding the aforementioned transactions. The following day, August 26th, Mr. Ganapathi submitted documentation pertaining to the transactions in question. However, the housing finance company subsequently responded via email, stating that no such request for fund transfer had been initiated or sent to the Malpe branch.
Subsequent investigations revealed that, during the period between August 11th and August 22nd, the then-branch manager, identified as Meera Pallavi T.H., allegedly colluded with the aforementioned account holders, and potentially others, to fabricate documents and fraudulently transfer Rs 73,00,000 for personal enrichment.
The accused parties are now facing charges of breach of trust and defrauding the bank. Law enforcement agencies are currently conducting a thorough investigation into the matter to ascertain the full extent of the fraud and to bring all culpable individuals to justice. The SBI has assured its customers that it is cooperating fully with the investigation and is taking all necessary steps to safeguard the interests of its stakeholders.