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Assistant manager of bank in Chennai held for misappropriation of funds
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The 32-year-old had withdrawn ₹82 lakh from a senior citizen’s account
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The 32-year-old had withdrawn ₹82 lakh from a senior citizen’s account
The Anti- Bank Fraud Wing of the Central Crime Branch (CCB) on Thursday arrested an assistant manager of State Bank of India (SBI) for allegedly misappropriating ₹82 lakh from a senior citizen’s account.
Police said K. Madhavan, 32, of Karur district, was an assistant manager with the SBI Retail Assets Central Processing Centre(RACPC) Branch in Egmore. He was arrested based on a complaint given by a senior bank official of the branch recently. Police said Madhavan initially joined as a clerk with the bank in Tiruchengode, and later shifted to the city. In 2013, he started to invest in shares from his earnings and subsequently, he became addicted to share trading. He had to borrow from his friends ....

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