Andhra Bank staffer swindles Rs 67lakh

HYDERABAD: An employee of Andhra Bank was arrested for misappropriating lakhs of rupees in the branch he worked earlier. The employee fraudulently withdrew more than Rs 67 lakh from the account of a customer and used the same for his personal gains.
The accused, 56yearold Alapati Satyanarayana, was the then submanager of Andhra Bank's Sunder Nagar branch at Erragadda when the fraud took place. According to CID officials, Satyanarayana used his official power to cheat the bank during his tenure from 2007 to 2009. Satyanarayana deliberately cancelled three fixed deposits to the tune of `67.71 lakh belonging to Indian Pharmaceuticals Association, AP Trust, Ameerpet prematurely."Satyanarayana withdrew and transferred all the amounts with interest to his personal bank account at Andhra Bank, SR Nagar branch in the form of pay order in the name of SBI, ICICI Bank and cleared debts of local branch cheques and his family loans," an official release by additional DGP (law and order) and spokesperson S A Huda said on Tuesday. He, later, destroyed the vouchers and original cheques. "Satyanarayana deliberately tampered with the customer's FD receipts without the consent or will of the customer and misappropriated the public funds for his personal gains," the release said. CID officials, who registered cases of cheating against Satyanarayana arrested him from his residence at Siddarth Nagar on Tuesday and seized `9,710 cash, credit and debit cards, gold weighing 108 grams, oneandhalf kilo silver ornaments, a Maruti Swift and two motorcycles worth `7 lakhs from him.