Martala Gurumohan Reddy, 31, cashier in the SBI’s Porumamilla branch in Kadapa district, and his two friends were on Tuesday arrested near the Kadapa RTC bus stand on charge of misappropriating cash and gold jewels of the customers.
Cash and 1.718 kg gold ornaments worth 1.08 crore had been recovered from them.
Kadapa Additional SP (Operations) Adnan Nayeem Asmi told the media in Kadapa that 56.76 lakh and gold ornaments worth 51.54 lakh were recovered from Gurumohan Reddy and his friends Bhoomireddy Suresh Reddy, 26, of Perumallapalli village in Chittoor district and Mundlapathi Kumar, 30, of Guptanagar in Badvel town of Kadapa district. The cashier, who had incurred hefty losses in the share market, was in charge of cash to be deposited in the ATMs and disbursal of cash for gold loans. He placed lesser amounts in the ATMs and duped gold loanees by replacing the pledged ornaments with duplicate ones. He mortgaged the ornaments with a gold loan bank in his native Proddatur, the Additional SP said.
While working in the SBI Rangasamudram branch too, he deposited lesser amounts in the ATMs and transferred the remaining amount into his account in a bank at Proddatur and in his wife Manjulatha’s account, Mr. Asmi said. He purchased shares and lost heavily.
He carried away 91 lakh from the bank’s safe on March 28 and fled along with his wife. He later took shelter in the houses of his friends by giving them part of the booty and shifted to Chennai, Mr. Asmi said.
The trio were arrested by Porumamilla Circle Inspector B. Madhusudan Goud, SI B. Pedda Obanna, B. Kodur SI B. Ghanamadduleti and staff and they would be produced in the Badvel court, he added.