A cash management service company employee, assigned the task of loading cash in HDFC bank's ATM centres, has been detained by the S.R. Nagar police on Friday for allegedly misappropriating Rs. 35,00,500 over past one year.
The accused, K. Srinivas, reportedly admitted to have embezzled the huge sum over a year by going to the bank's ATM centres in Motinagar area in the name of servicing them.
A resident of Jagadgirigutta, Srinivas is working for a company which is into the business of loading cash in bank's ATM centres. The company loads nearly Rs. 2 crore cash in 20 HDFC bank ATM centres in S.R. Nagar area.
Srinivas, who had been working for past four years, along with another employee, Bhaskar, goes to these ATM centres as per schedule and fills the cash.
“Since one year, he started misappropriating cash given for loading in the ATM centres,” the police said.
Investigation suggested that Srinivas used to go to some of these ATM centres alone after loading the cash. He would tell the security guards that he was asked to undertake some repair and clandestinely take out some cash and leave. Thus, in past one year he had taken away Rs. 35,00,500.
It is believed that he gave part of the sum to his brother-in-law Venkatesh for business investments. Based on his company management's complaint, the police detained Srinivas.
He, along with Venkatesh, was being grilled.
