AP Mahajan Co-operative Bank manager held for fraud

Hyderabad, Oct.9 : Commissioner’s Task Force, North Zone team today arrested one Parol Subramanian Murali, 60, Senior Manager of The A.P Mahajan’s Co-Operative Urban Bank Ltd, Ghasmandi Branch, Secunderabad, for fraudulently transferring Rs 58, 49, 566 to his personal account and those of his family accounts and manipulated the bank accounts without the knowledge of the bank authorities.

Complaint K Suryanarayana Murthy, CEO, A.P Mahajan’s Co-Operative Urban Bank Ltd, Ghasmandi Branch, Secunderabad, noticed some 35 fraudulent transactions in Current Account of Axis Bank, Secunderabad Branch and verified them from January 8, 2016 to September 15, 2018 and detected that Rs 58,49,566 were illegally transferred to his and his family members’ accounts and lodged a complaint with police.

Acting on the complaint, the police arrested the accused, who was residing at Solanki Gulmohar Apartments, Brahmanwadi, Begumpet, Hyderabad. He is a native of Shivaji Nagar, Bengaluru. The police seized net cash Rs 56, 30,000 and registered case in Cr. No. 119/2018 under Sections 409, 420, 477A IPC and Sec. 5 of Protection of depositors of Financial Establishments Act-1999 of Market PS.

Police said Parol Subramanian Murali hails from Bangalore and settled in Hyderabad. He passed B.Com from S.P. College, Secunderabad and worked as clerk, Accountant, Manager at various Co-Operative Banks since November 2014. Police said owing to financial problems, the accused hatched a plan to debit the Customers’ saving amounts to his personal account by misuse his official position.

The accused along with seized cash was handed over to SHO, Market PS for investigation

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