Development News Edition
Give Feedback

Couple of ATM cash employees held for siphoning off over Rs 1.7 cr

The money is then entrusted to its various employees who replenish cash into the ATMs of various banks as per the schedule, the officer said.


PTI 03 Aug 2018, 07:11 PM India

Two employees of a cash replenishing company were arrested for allegedly misappropriating over Rs 1.7 crore from the amount meant to refill the ATMs across the city, police said today.

The accused identified as Manish Kumar and Satpal are both residents of Delhi, they added.

According to a complaint lodged on Wednesday by Prem Savariya, Branch Head of SIS Cash Services, which is in the business of replenishing cash in the ATMs, the two accused employees had misappropriated over Rs 1.7 crore, Vijay Kumar, Deputy Commissioner of Police (West) said.

The firm obtains cash from the banks and keeps them in their vault at Rajouri Garden. The money is then entrusted to its various employees who replenish cash into the ATMs of various banks as per the schedule, the officer said.

On July 27, they have entrusted with cash to the tune of Rs 1.84 crore for replenishing in various ATMs. But they did not load the cash in the ATMs and instead brought it back to the office. Later on, the accused took the cash on the pretext of replenishing the ATMs but misappropriated the money, the officer said.

During the investigation, it was revealed that Rs 1.19 crore was not loaded in 10 ATMs out of Rs 1.84 crore withdrawn from the vault by them. They further took out Rs 70,28,500 from other ATMs. Both the accused misappropriated Rs 1,72,78,500, he said.

Subsequently, both the accused Manish and Satpal were arrested and taken into police remand.

A sum of approximately Rs 64 lakh in cash was recovered at the instance of the accused Manish. Raids are being conducted for further recoveries, the officer added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


add banner

LEAVE COMMENT