Hyderabad: The White Collar Offences team from Hyderabad CCS on Monday arrested the branch manager of Andhra Bank for cheating and sanctioning loans without valid documents.
According to the officials, Ramachandruni Hanumantha Rao, the manager of Andhra Bank, currency chest, S.V. University Campus, Tirupati, was arrested following a complaint from a Branch Manager of the said bank’s from Madhura Nagar branch on March 22, 2016.
“Based on the complaint, cases were booked against Pasham Prashanth, Kolapalli Naveen Kumar, Srinivasa Poojari and others,” said the DCP, CCS, Avinash Mohanty.
“Hanumantha Rao, conspired with other men and sanctioned loans while he was working at the Madhura Nagar branch. He sanctioned loan an amount of Rs 1.37 crore to Prashanth, Kumar and Poojari based on fake land document papers and handed over the pay orders in advance, instead of handing it to the vendor at the time of registration. Subsequently, the men committed fraud and caused a loss to the Bank,” Mr Mohanty added.