Hyderabad: A Rs 30-lakh scam, perpetrated by a computer operator, has come to light in the Dr BR Ambedkar Open University. Officials, however, said that it is a tip of an iceberg. The exact amount involved in the scam will be unearthed soon.
“The authorities found diversion of funds worth Rs 30 lakh in the last 12 months. They are yet to verify the records of previous two years. In January this year, the accused diverted nearly Rs 7 lakh to a joint account,” an official source said. A complaint has been filed with the Madhapur police.
The source added that the computer operator, YV Rajeswar Rao, working in the finance department, opened a joint bank account three years ago to divert the funds from the varsity's account. His wife was also a beneficiary of the joint account.
He used to submit two separate salary statements — one for the university records and another for State Bank of India branch in the campus — while releasing employees' salaries, the source added.
The meticulous scamster started with small amounts to test the water. Initially, the diversions ranged between Rs 3,000 and Rs 5,000. Buoyed by the success, he began to increase the amount, reaching Rs 3 lakh to Rs 7 lakh per month.
The issue came into light on Saturday afternoon when the bank's manager expressed doubt and found nearly Rs 70 lakh difference. The police is yet to register a case as the authorities have sought time to provide more evidence.
A source in State Bank of India said, “As the accused had opened a joint account, the bank transferred the salary as per the statement submitted by the university.” Professor C. Venkataiah, registrar of the university, told this newspaper that the total loss will be detected after checking the bank statements for the last three years on Monday.
