Duo worked at Whitefield office of financial services firm
The Whitefield division police have busted a major fraud and arrested two staffers of a global financial services firm on charges of siphoning off Rs. 12.15 crore from the accounts of its foreign customers.
The accused, Ramu Chandrappa of Doddagubbi and Suresh Babu N. from Bellandur had joined JP Morgan office in Whitefield as accountants in 2013 on fake educational certificates. The duo who had access to the customers’ account details used to transfer money to their personal accounts. Using that money they had invested in real estate and purchased gold and silver articles.
The fraud came to light three months ago during the annual audit and bank officials came to the know that the cash transferred from foreign customers’ accounts have been diverted to local accounts. Further verification led to Chandrappa and Suresh Babu following which a complaint was filed with the Maratahalli police.
The police picked up the two and recovered cash of Rs. 8.14 crore from their account. The rest of the money had been used to purchase three acres of land in Doddaballapura, a four-storeyed house in Kothanur, 470 gm of gold valuables and eight kg. of silver articles which the police have seized.
Appreciating the investigation, the City Police Commissioner announced a cash reward of Rs. 50,000 to PSI Muniraj and team.
