The Central Bureau of Investigation (CBI-Visakhapatnam) has intensified the investigation into the alleged gold loan fraud worth Rs.7.07 crore in the State Bank of India’s Sakhinetiaplli branch in East Godavari district on Thursday.
The CBI team led by Investigation Officer Mr. Manohar Reddy on Thursday conducted the raids on the targeted locations including the houses of SBI staff of the Sakhinetipalli branch.
According to the FIR registered by the CBI-Visakhapatnam on June 21, Cash In-Charge Rapaka Venkata Ramana Murthy has reportedly credited Rs.6.69 crore money into the 319 savings accounts by creating fake gold loans without the pledged gold. In the case of 37 gold loan accounts, he has also sanctioned the gold loan beyond the worth of the pledged gold ornaments.
“The petitioner, A.Nageswara Rao, Branch Manager (Regional Business Office-Rajamahendravaram), has stated that the bank’s internal investigation has unearthed the Rs.7.07 crore gold loan scandal in May”, according the CBI FIR. The scandal period was between December 2016 and January 2021.
The CBI has registered a case against Mr. R.Venkata Ramana Murthy on the charges of criminal conspiracy, forgery, and breach of trust.
The SBI has also initiated departmental action against the four other staff identified as Branch Managers K. Paramesh and K. Koshore Kumar, and Service Managers - V. Kameswari and S.Veera Venkata Ramana - for their role in the scandal.
