Police in Chennur, Mancherial District on Sunday cracked the case of sensational banking fraud worth almost £ 13.71 and arrested up to 44 people, including the treasurer and manager of the SBI-2 branch.
The police received 15.23 kg of gold ornaments and cash of 1,61,730 GBP.
Among those arrested were three employees, Narige Ravinder, cashier, Vennapureddy Manohar, branch and Lakkakula Sandeep, outsourced employee.
Kingpin Ravinder, who allegedly suffered severe losses in betting online cricket, “organized” fraud in connection with other accused to replace his losses and continue betting online. He allegedly abused 21 kg of gold by teaching the leading branch, the police said.
The fraud appeared a week ago during the internal audit.
Police Chennur, who worked on a complaint filed by Ritesh Kumar Gupta, regional manager of SBI, Chennur, Chennur registered the police and launched a detailed investigation, led to the arrest of Kingpin and his accomplices.
Police Commissioner Ambar Kishhor Jha, who provided details of the case at a press conference in Ramagundam on Sunday, said Ravinder and Manohar cheated on gold ornaments, promised customers and cash from the main currency chest in various magic since October 2024.
He gave these gold ornaments to his friends working in various private money lending companies, which in turn used loans by committing gold in the relevant private companies before transferring the amount to Ravinder by receiving commission.
The accusation has so far fraudulently burdened gold ornaments in 10 private gold lending companies and received 142 gold loans in the name of 44 people. Furthermore, two sanctioned 42 false gold loans in the names of their family and friends, said the police commissioner.
Well coordinated efforts and careful investigation by police teams led to recovery of gold from five private rental companies and efforts to restore the remaining jewelry.
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Published – 31 August 2025 17:25 is
