Wednesday, Sep 25, 2002
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By Our Staff Correspondent
In a police complaint, a senior executive of the bank said the cashier of the bank's branch at Kadagathur, Nagaraj, had been duping innocent and illiterate customers for the past four years. It came to light when he went on leave due to the death of his wife on September 19.
Madhusudan Reddy from the Madhugiri branch of the bank was posted in his place on that day. When Jakka Reddy, a customer, submitted a cheque for Rs. 1 lakh, the ledger in the bank showed he had a balance of only Rs. 54,000 though his passbook showed Rs. 2.14 lakh. Mr. Reddy had to produce challans given to him for remitting money with the bank signed by Nagaraj. Later it was learnt that Nagaraj had duped Mr. Reddy of Rs. 1.50 lakh by maintaining separate ledgers.
As the news spread, over 500 of the 3,000 account holders went to the bank for verification. It was found that Nagaraj had duped 70 people of Rs. 20 lakh. It is said Nagaraj did not go on leave even for a day fearing that his illegal activity would be noticed.
He used to accept cash, write challans, and enter figures in passbooks and ledgers by himself when illiterate customers went to the bank to remit money.
A group of customers staged a dharna in front of the bank demanding that their money be repaid. Senior officials of the bank promised them that action would be taken to get their money back.
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