CBI probing Rs 5-crore fraud in Karnataka State Handicrafts Development Corporation
New Delhi: The CBI has started an investigation into alleged embezzlement of Rs 5 crore in Karnataka State Handicrafts Development Corporation (KSHDC) in connivance with an official of the State Bank of India, officials said Monday.
The CBI has registered the FIR on a complaint from the chief manager of SBI alleging that an assistant manager had opened a current account number -- 7828879815 -- of KSHDC, on its application, at Hesarghatta Road Branch.
The complaint alleged that Sateesh V Vambhashe, the then assistant manager at the bank, fraudulently opened one more account in the name of KSHDC 37830657832 under the same Customer Information File without any authorization from the KSHDC to facilitate the illegal transfer of funds.
On July 26, 2018, an inward remittance of Rs 5.01 crore came to the authentic KSHDC account from Canara Bank which was fraudulently transferred to the similar account created by Vambhashe, it alleged.
An amount of Rs 25 lakh was further transferred into a fixed deposit while the balance was transferred in 12 transactions over two months to accounts of Velohar Infra Pvt Ltd and Venture Cottage Industrial Trade Company based on purported cheques issued by KSHDC signed by their Assistant (Finance), it alleged.
The manager fraudulently issued a letter to KSHDC that fixed deposit receipt was verified and genuine and maturity amount of over Rs 5.37 crore would be paid back to them whereas in the core banking system of the bank the FD was issued for only Rs 25 lakh.
"Sateesh Vambhashe has allegedly committed falsification of accounts and colluded with KSHDC officials to unauthorisedly divert funds to the tune of Rs 4.76 crore by transferring through RTGS to different suspicious accounts," the FIR alleged.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Vijayanagara: One dead, 12 injured as trucks hits their vehicle from behind on NH 50
Vijayanagara: One man was killed and 12 others were injured after a truck hit vehicle they were traveling in on the National Highway 50 stretch on the outskirts of Koodligi in the district.
The accident victim, Madhu (27), is learned to have been an employee of Reliance Digital from Andhra Pradesh.
The vehicle was reportedly traveling from Bengaluru to Koodligi and the passengers are learned to have been seriously injured following the collision with the truck, which was found to have a Maharashtra registration.
Koodligi Deputy Superintendent of Police (DySP) Mallesh Dodmani and Circle Inspector Prahlad Channagiri arrived at the accident spot on being informed of the accident.
The police officers and locals rescued the injured passengers and got them shifted to the Koodligi Government Hospital. Some of the passengers were reportedly taken to the Ballari Trauma Care Centre for further treatment.
A case has been registered at the Koodligi Police Station and the officers are investigating the incident.
