Devireddy (39), head cashier in State Bank of Mysore, Siruguppa branch, who had stolen Rs. 1.5 crore from the bank and was absconding since March 25, was arrested by Siruguppa police on Tuesday.
The police, who had recovered Rs. 1.17 lakh last week, were able to recover another Rs. 12 lakh.
R. Chetan, Superintendent of Police, told presspersons here that Ravindra Hegde, Chief Manager of SBM, lodged a complaint with the police on April 5 that during audit, cash to the tune of Rs. 1.5 crore (all denomination of Rs. 1,000) was missing from the currency chest. On verification of CCTV footage the bank staff found the movement of Devireddy suspicious on March 24 and 25. After registering the complaint, police raided Devireddy’s house in Ballari city and recovered Rs. 1.10 crore and launched a manhunt and nabbed him near a dhaba on Sindhanur road.
Devireddy, on being interrogated, is said to have admitted having stolen Rs. 1.5 crore of which he had kept Rs. 1.10 crore in his house, gave Rs. 6.99 lakh to his younger brother to repay a loan and also repaid his own loan of Rs. 12 lakh. He had also spent Rs. 1.04 lakh.
Based on his information, police recovered Rs. 12 lakh from one Somareddy and Rs. 6.99 lakh from Devireddy’s brother.
Devireddy had managed to take the second key of the currency chest and had taken away the cash from the chest on March 24 and brought it home the next day which was a holiday.
Mr. Chetan said that an investigation was underway to find out whether there were other bank employees involved in the episode.
Mr. Chetan, while complementing the Siruguppa police for arresting the accused and recovering the cash almost intact, has announced a cash reward.
