Bangalore, December 24: Kiran used fake papers to gain money in order to clear heavy debts
Basavanagudi police have arrested K V Kiran Kumar (29), an MNC bank employee, and his father K Vijay Kumar (54), for cheating bank customers to the tune of Rs 1.33 crore.
According to police, Kiran misused his position as a relations manager to clear his father’s heavy debts. Police have recovered Rs 45 lakh in cash, a site document and a vehicle worth Rs two lakh, all valued at Rs 87 lakh.
Vijay Kumar, a native of Mysore, was a reputed contractor and had bagged many projects, thanks to his proximity to a few top political leaders in the district. However, he was not paid for the projects he worked on, and this landed him neck deep in debt. Unable to repay the loans he had borrowed from various sources and, he shifted to Bangalore.
“Kiran is an honest employee. But moved by his father’s plight, he wanted to help him. He misused his power, made fast money to repay his father’s debts,” Jayanagar sub-division ACP Manjunath told Deccan Herald.
As a relations manager at the Basavanagudi branch of the bank, Kiran was assigned the task of creating awareness about Wealth Management Portfolio Transaction. But, according to the police, he asked customers to invest their money in mutual funds, which would yield high returns, than having simple deposits. A few agreed to his proposal and he collected signed withdrawal forms from them. Later, he used the forms to withdraw money, and repaid his father’s debts.
A few customers grew suspicious and lodged a complaint with the police. Following a preliminary investigation by the bank officials, it was revealed that Kiran Kumar had used fake documents to collect money.
Following a complaint lodged by the bank branch manager and vice-president V Ramakrishna, the police arrested Kumar and his father. The duo had bought a site and were constructing a house. They had also purchased a car.
Two held for assault
JP Nagar police arrested Manjunath, 29, and Vinay, 26, for allegedly assaulting and robbing film producer Subramanya Naidu. According to police, Manjunath was working with Naidu some time ago. Recently, he asked Naidu to meet him at a specific place so that he could introduce him to some artistes. When Naidu went there, the duo assaulted him, snatched his jewellery and an expensive watch, and fled, police said.
Property recovered
South Division police claimed to have recovered stolen properties worth Rs 2.27 crore by arresting 65 suspects allegedly involved in 119 cases in the last one month. The cases were related to murder for gain, extortions, house thefts, vehicle thefts, robberies and others. The recovered properties include cash, jewellery, electronic gadgets and vehicles.
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