ICICI bank customers cheated of Rs. 1.5 crore

Staff Correspondent

HUBLI: A sales agent allegedly cheated ICICI Bank and its customers of Rs. 1.5 crore by using his account in the bank and fake letterheads of the bank.

Based on a complaint from Jitendra Kumar, assistant manager of ICICI Bank, Hubli, a case was registered at the Suburban Police Station here on Wednesday against Rajaram Hedage.

Police have informed that Rajaram Hedage, a native of Sirsi, was associated with Srinidhi Capital Services, Srinidhi Technologies and Srinidhi Financiers. He had an office at Revankar Complex in Hubli. The ICICI bank officials had appointed him direct sales agent and rural marketing associate.

The accused passed on his personal bank account number as that of the bank and asked his customers to route their payments to his personal account. He also created a fake letterhead of the bankand used it to cheat the customers. He had also given fake receipts to the customers, police said.

The assistant manager of the bank has put the total loss at Rs. 1.5 crore. Following the complaint the Police Commissioner has constituted a special team led by City Crime Branch Inspector Shivalli.