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Graft: Bank officer on CBI deputation arrested

A Chief Manager of Syndicate Bank, presently working on contractual basis with the CBI’s Banking Securities and Fraud Cell, and a CBI Inspector were arrested in New Delhi by the CBI in connection with a bribery case of Rs 1 lakh.

Those who were arrested have been identified as Sambi Reddy (Chief Manager of Syndicate Bank) and CBI inspector SK Jha. A case was registered under section 7 of the Prevention of Corruption Act, 1988, against them. It was learnt that there was a complaint against them that Reddy has demanded a bribe of Rs 25 lakhs from a person, whose role was under investigation, in a Bank fraud case of Rs 30 crore. There are allegations that Reddy and Jha asked for the bribe for ensuring relief and favour to him in the said case. Later, the demand was allegedly brought down to Rs. 10 lakhs, which the complainant was agreed to pay in two installments of Rs. 5 lakhs each.

Meanwhile, CBI laid a trap and Reddy was caught red handed while demanding and accepting a bribe
of Rs. one lakh. Subsequent to the trap, investigation has disclosed that Jha was also allegedly a part of criminal conspiracy. Later he was also picked for further investigation.

“We have conducted searches at various places of accused and seized several documents of their bank statements. Both the arrested accused have been produced before a local Court in Delhi on Monday, ” sources said.
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