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A manager at Andhra Bank was arrested by Central Crime Station (CCS) sleuths on Monday for conniving with three persons and sanctioning a loan for Rs.1.37 crore.

CCS officers arrested Ramachandruni Hanumantha Rao, branch manager, Andhra Bank, Currency Chest, S V University Campus, Tirupati, Chittoor District.

Hanumantha Rao had filed a complaint in in March 2016, saying three persons--Pasham Prashanth, Kolapalli Naveen Kumar, Srinivasa Poojari--while raising a home loan had produced fabricated documents in 2014 when he was the manager in Madhura Nagar branch and failed to return the money. Prashant and two others created fake sale agreements and produced them at the bank as if it was entered with a builder, from whom they are purchasing three separate flats.

The bank manager did not get the documents properly verified. Surprisingly, he had handed over the cheques to these three accused instead of giving the cheque to the builder.

“Prashant and his two other associates created a fake bank account in the name of a builder and withdrew Rs.1.37 crore. It was a gross mistake on part of the bank manager to hand over the cheque to these three accused,’’ said sub-inspector Purender Reddy.

Deputy Commissioner of police (CCS) Avinash Mohanty in a press note said Ramachandruni Hanumantha Rao while working at Andhra Bank, Madhura Nagar branch, had conspired with the other accused and sanctioned a loan for Rs.1.37 crore to the accused.

Prashant and his two other associates produced forged payslips by claiming to draw exorbitant salaries. Recently, the CCS sleuths had also arrested a chartered accountant.




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