AP & Telangana State Head – Anandam Dundi :
A major fraud has come to light at the State Bank of India (SBI) branch in Chennuru, Adilabad district, Telangana, where a cashier allegedly orchestrated a scam worth ₹13.71 crore, reportedly inspired by the recently released movie Lucky Bhaskar.
The accused, Narige Ravinder, is believed to have defrauded 402 customers, misappropriating their cash and mortgaged gold.
How the scam unfolded
According to a police report, Ravinder, a cashier at the branch, meticulously planned the scam over ten months. He allegedly created secret bank accounts in the names of relatives, family members, and friends to siphon off customer funds and gold.
The scam came to light during a routine quarterly audit, which revealed major discrepancies in the bank’s cash and gold records. The total loss amounted to ₹13.71 crore, including ₹12.61 crore worth of gold and ₹1.10 crore in cash. Ravinder reportedly stole 20.496 kg of gold out of 25.175 kg mortgaged by 449 customers and diverted ₹1.10 crore in cash deposits into fraudulent accounts.
Suspicion arose when Ravinder failed to report for work after the audit began on May 22. Subsequent verification of audit records, CCTV footage, and fingerprints confirmed him as the mastermind behind the fraud.
Ravinder, a B.Tech graduate from Basara Triple IT, joined SBI as a cashier in 2017. Police investigations suggest he fled with the stolen assets, investing part of the funds in other banks and finance companies before going into hiding.
Online betting and movie inspiration
The investigation revealed that Ravinder, a father of two, had amassed significant debts from online betting. Authorities suspect he drew inspiration from the movie Lucky Bhaskar, reportedly believing he could quickly gain wealth by defrauding the bank.
Police action
Police have launched a manhunt for the absconding cashier. Witnesses reported seeing Ravinder shave his head in Vemulawada to avoid identification. Special teams are actively searching the area.
Meanwhile, nine people, including Ravinder’s wife and sister-in-law, have been arrested for allegedly assisting in the scam. Cases have been filed against all the accused.
Bank reassures customers
The revelation of the massive fraud caused panic among customers at the Chennuru branch. Bank officials, including the branch manager, intervened to calm the situation and assured customers that efforts were underway to recover and return all stolen cash and gold. Their intervention reportedly helped ease tensions among depositors.