Huge gold scam in SBI Vijayawada Gayathri Nagar Branch

First Published 21, Sep 2017, 5:06 PM IST
Huge gold scam in SBI Vijayawada Gayathri Nagar Branch
  • SBI bank staff in Vijayawada Gayathri Nagar branch took the gold credited by the customers
  • They used the gold to take credit from a private loan agency
  • Three bank staff were arrested

A huge gold scam came into light in the SBI (State Bank of India) Gayathri Nagar branch in Vijayawada. 10.2 kgs worth of gold ornaments credited by customers in the bank went missing from the bank locker.

According to details given to Sakshi news, Bank head clerk Krishna Chaitanya, along with staff Dilip and Phani Kumar, took out the gold ornaments from the bank locker, credited them in the Machavaram Manappuram gold loan office and took Rs 3 crores as credit on them. Krishna Chaitanya used the money in the share market.

When the customers approached the head clerk to clear their loan and return their ornaments, he kept postponing and asked them to come again later. This aroused the suspicion of the customers who complained to the bank authorities.

Bank authorities handed over the case to CID and the team under investigator SP Kalidasu Venkata Ranga Rao probed the scam and found that the bank staff is responsible for it.

The police arrested Krishna Chaitanya, Dilip and Phani Kumar for fraud and are investigating the case further.