Former bank manager convicted for siphoning customer's funds

By Newsmeter Network  Published on  12 Sep 2019 6:06 AM GMT
Former bank manager convicted for siphoning customers funds

Hyderabad: A woman, who had earlier worked as a manager at a branch of a public sector bank, was sentenced to two years imprisonment in connection with a cheating case registered in 2015. The accused, Dudla Jyoti Prasad siphoned funds from the savings account of a customer in the branch.

Jyoti Prasad had worked as the manager at the bank's Dilsukhnagar branch from 2011 to 2013. During her tenure, she noticed cheques sent to a few customers were returned to the bank as the customers had relocated from the addresses furnished in the banks.

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Taking advantage of this situation, she withdrew the cheques. In this manner, she had siphoned funds to the tune of Rs 21.50 lakh in two years.

However, this irregularity came to light during an internal audit in 2015 and a case was registered at Vanasthalipuram police station in the city.

During the investigation, she was arrested and a charge sheet was also filed subsequently. On Wednesday, the Ranga Reddy court delivered judgement in this case, sentencing her to two years rigorous imprisonment and a fine of Rs 10,000.

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