CBI books two SBI officials in 5 Cr scam
By Newsmeter Network Published on 1 Oct 2019 4:23 PM GMT
Hyderabad: The Central Bureau of Investigation, on Tuesday, arrested two State Bank officials and three private persons for cheating the State Bank of India to a tune of Rs 5.36 crore. The investigators were acting on behalf of a complaint they received from the Regional Manager of the bank’s Himayatnagar branch.
It is alleged that Abdul Rawoof Pasha, the then regional Manager of Parishrama Bhavan branch, conspired with another banker T Lakshminarayan and Kotakonda Krishna Prasad, promoters of NAR Traders and Enterprises. While handling the various facets of SME (Small and Medium-sized Enterprises) advances, Abdul colluded with Lakshminarayan and deposited fabricated gift deeds as collateral security. The duo fraudulently portrayed Lakshminarayan as a partner of NAR Traders. The latter is also alleged to have started a partnership firm with Krishna Prasad in 2014, without the appropriate administrative clearance from bank authorities.
The Himayatnagar RM’s complaint states that the two bankers allowed NAR traders to withdraw a loan amount of Rs 5.05 crore in July 2017 by submitting fabricated invoices. Following the investigation, CBI booked Abdul, Lakshminarayan, and Krishna Prasad for breach of trust, fraud, forgery and various other crimes.
