Police book branch manager of private bank

A manager with Herbalife International India Pvt. Ltd. has filed a complaint against a well-known private bank accusing employees of its Koramangala branch of authorising a ₹4.10 crore transaction without his permission.

Based on his complaint, the Ashok Nagar police have booked the manager of the bank.

The complainant, Satya Prasad Kolla, claimed to have found many fraudulent transactions in the company’s bank account. He told the police that he wrote to the bank and requested them to freeze the account till an internal audit was completed.

“He instructed the bank to not allow any transaction without authorisation from Herbalife. However, the bank cleared a transaction of ₹4.10 crore. The money was transferred to another Bengaluru-based company,” said the police.

When Kolla contacted the bank, he was unable to get an explanation. He approached the police and filed a complaint.

“We will summon the bank manager for questioning,” said the police.

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Printable version | Oct 17, 2021 8:46:52 AM |

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