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Rs 4.75 crore fraud in SBI, Case filed against SBI Manager for withdrawing money from customer’s accounts


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The former branch manager of the Sanath Nagar branch of the State Bank of India, Karthikrai, is accused of defrauding the bank of Rs. 4.75 crore through unauthorized transactions in multiple accounts.

He allegedly sanctioned personal loans to customers with existing loans, promising to close the existing loans with the proceeds of the new loan.

However, the funds were instead diverted to third-party accounts without the customers’ knowledge. Karthikrai also reportedly used the misappropriated funds for personal expenses.

The police have registered a case against him under various sections of the Indian Penal Code.

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