The employee had been scamming off the bank since 2012 and reportedly stole ₹100 crore of depositors’ money to fuel his ultra extravagant life.
Here’s how he burned through the stolen money
- He purchased 23 high-end cars
- ₹10 crore was spent on pimps who set him up with ladies every night
- Lucky waiters who served him received whopping ₹1 lakh as tips.
- He stayed only at posh seven-star hotels
- He bought 6-acre agriculture land in Dakshina Kannada district
- A villa worth ₹2 crore was purchased in the name of his girlfriend
- 2-acre irrigation land was bought in his girlfriend’s brother’s name
Sarathi misappropriated cancelled cheques given by bank customers. He swindled ₹30 crore at Bijapur DCC Bank, ₹1.65 crore in Siddeshwara Co-operative Bank, ₹13.45 crore from NHAI (National Highways Authority of India), ₹2.25 crore from Kiran Merchants Association, ₹19.25 crore from Vijaypura Citi Co-operative Corporation, ₹4 crore from Vijaypura Water Supply Board, ₹7.60 crore from SBI.
The Regional Manager of ICICI Bank had filed a complaint against two officers in this connection with the crime and it was subsequently transferred to CID, says a report by Bangalore Mirror.
CID sleuths finally nabbed him at the India-Nepal border. The police have recovered ₹40 crore, including some important property documents.
Last Updated 31, Mar 2018, 7:00 PM IST