Investigators looking into the fraud at Union Bank’s Kurubagonda branch have discovered a new revelation – the accused allegedly embezzled over Rs 10 crore from customers for personal gain. Initial reports suggested that the accused had defrauded customers of jewelry and cash totaling Rs 1.6 crore.
On November 8, the police arrested assistant branch manager Archana Betgeri, daily wage worker Shantappa, and business correspondent Praveen for deceiving the bank’s customers.
Originally, it was reported that Archana Betgeri, the prime accused, misused Rs 81,45,420 from nine customers and took gold worth Rs 49,47,792 from bank lockers belonging to 13 customers who had deposited it for a loan. She also withdrew Rs 31,33,500 from the Union Bank ATM, Kurubagonda, with bank staff Shantappa and Praveen, accused two and three, respectively.
However, more customers have now approached the branch, filing complaints about losing money from their accounts. A contractor with an OD account of Rs 90 lakh in the bank’s Kurubagonda branch fell victim to the accused, losing Rs 85 lakh after being assured his account would be converted into a deposit account.
Archana, despite being transferred to the Hubballi regional office on November 7, continued accessing bank lockers with Praveen on the next day by manipulating documents and computer data, as per another bank staff.
Hari Ram SVS, the regional manager of Union Bank, Hubballi, assured customers that there is no need to panic as their money and gold are secure if genuine. An FIR has been filed at CEN police station, Haveri, and an internal audit is underway. The audit report will reveal the extent of misappropriation in the Kurubagonda branch, leading to a police inquiry and chargesheet filing.
