ICICI Bank Scam in Andhra Pradesh: Rs.28 Crore withdrawn illegally from accounts of various customers
Account holders in three ICICI Bank branches across Andhra Pradesh’s Palnadu and NTR districts have reportedly lost approximately ₹28 crore in a major scam. The Crime Investigation Department (CID) is now investigating the matter, which involves the loss of fixed deposits and gold belonging to 72 account holders.
Investigation Details
According to CID Additional Superintendent of Police Adinarayana, the investigation was launched following a complaint by the Vijayawada Zonal Officer of ICICI Bank. The affected branches are located in Chikaluripet and Narsaraopet (Palnadu district) and Vijayawada (NTR district).
CID officials are currently questioning several bank employees to determine their role in the alleged diversion of funds from the accounts. The focus of the investigation is on the suspected fraudulent activities within the bank.
How the Scam Was Uncovered
The scam came to light when account holders visited their respective bank branches to inquire why the interest on their fixed deposits had not been credited for the past two months. To their shock, they were informed by bank officials that their fixed deposit bonds were no longer valid.
Victims promptly filed complaints with the police, leading to the registration of a case, which was later transferred to the CID for further investigation. ICICI Bank’s Zonal Officer in Vijayawada also approached the CID to seek an in-depth investigation into the matter.
Allegations Against Former Bank Manager
The CID has received complaints alleging that Naresh Chandrasekhar, a former manager at the Chikaluripet, Narsaraopet, and Vijayawada branches, was involved in diverting the fixed deposits. In addition to fixed deposits, some customers who had deposited cheques were also defrauded.
“There are three to four categories of customers who were cheated. We are recording their statements,” a CID official said. The irregularities were discovered by the bank in July this year, and Naresh was subsequently suspended. The bank has initiated a departmental inquiry into his actions.
Progress of the Investigation
The CID has requested the reports from the bank’s internal inquiry and expects a breakthrough in the case within the next 2-3 days. Officials are working to uncover the full extent of the scam and hold those responsible accountable.
Support for Victims
Chilkaluripet MLA P. Pulla Rao has assured the victims of his support and urged the bank to provide justice to the affected account holders. The MLA’s intervention aims to ensure that those who lost their savings in the scam are compensated appropriately.
