Cops arrest bank officials for cheating depositors of Rs 90 cr

NT Correspondent

Bengaluru: At least five people have been accused, including the president of Kuruhinasetty Souharda Credit Co-operative Ltd of allegedly cheating the depositors of crores of rupees in the city.

The officials who were arrested were identified as BL Srinivas, president of the co-operative bank; Eshwarappa, vice president; Dayananda Hegde and Chandra Shekhar, who had allegedly obtained huge amounts of the loan without repaying it; and BT Mohan, who had started the business by entering into an MOU with the bank.

The arrests were made by the Kempegowda Nagar police based on multiple complaints of cheating, misappropriation, and criminal breach of trust filed against the management of the bank. In their complaints to the police, the depositors alleged that the bank did not return their fixed deposits and that the officials had cheated them of over Rs 90 crore. Further investigation is underway