CBI Charges SBI Employee for Theft of Customers' Jewelry Valued at Rs 8 Crore
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Synopsis
An SBI employee in Tamil Nadu has been charged by the CBI for stealing Rs 8 crore worth of jewelry. B. Sekar misappropriated jewelry by cutting gold pieces and taking home parts of ornaments pledged as collateral. The investigation began after the branch manager reported discrepancies in the weight of the pledged jewels.
Key Takeaways
- Employee Misconduct: SBI employee involved in theft.
- Jewelry Value: Rs 8 crore misappropriated.
- CBI Investigation: Case transferred for thorough investigation.
- CCTV Evidence: Manager reviewed footage leading to suspicion.
- Legal Proceedings: FIR filed for breach of trust.
New Delhi, Jan 21 (NationPress) An employee of the State Bank of India (SBI) in Tamil Nadu has been charged by the CBI for embezzling jewelry worth Rs 8 crore by slicing gold pieces with a blade and secretly taking home parts of ornaments pledged by bank clients as collateral for loans.
B. Sekar, who served as a cash officer at SBI's Kethanur Branch in Palladam, engaged in this unlawful activity over a span of five years from 2017 to 2022 while working in the jewels division.
The initial case against Sekar, aged 57, was filed by the police following a complaint from branch manager K. Sudhadevi, who reviewed CCTV footage and concluded that Sekar was involved in deceit and misappropriation.
She informed the police that she became aware of Sekar's actions from news reports on March 12, 2022, which included complaints from customers claiming that their pledged jewels were lighter than their original weight. Consequently, the police lodged an FIR against Sekar under legal provisions concerning breach of trust and fraud.
Later, the Madras High Court on August 28, 2024, instructed the Director General of Police, Tamil Nadu, to take necessary steps for transferring the investigation to the CBI. Following this order, a complaint regarding the misappropriation and fraud amounting to Rs 8 crore was filed by the federal agency.
The branch manager's complaint stated, "Legal action should be initiated against B. Sekar for misappropriating the jewels belonging to customers of our branch and to recover the misappropriated jewels."
While submitting her complaint, she provided Sekar's address as TSB Home, Balaji Nagar, TKT Mill Bus Stop, Palladam Road, Tiruppur.
The branch manager mentioned that an inquiry was conducted based on the directives of senior officials, and the CCTV footage from the jewels division was examined for January 11, 2022.
The complaint stated, "It was discovered that since May 8, 2017, Sekar misappropriated parts of the jewels pledged by our branch's customers using a cutting blade. An internal administrative inquiry is currently underway."
The Anti-Corruption Branch in Chennai lodged a new FIR against Sekar on Monday and presented its copy to the Chief Judicial Magistrate in Coimbatore.
