Kolar: Police arrest 3 ATM cash loaders for siphoning off Rs 3 crore

Team Udayavani, Oct 1, 2021, 1:15 PM IST

Kolar: Three employees of a cash replenishing company were arrested for allegedly misappropriating over Rs 3 crore from the amount meant to refill the ATMs across the district.

The accused have been identified as Pavan, Murali and Gangadhar. Prime accused Sunil Kumar is still absconding.

According to a complaint lodged by Secure Value India Company, which is in the business of replenishing cash in the ATMs, the accused employees had misappropriated over Rs 3.1 crore in installments. It came to light during an audit in August.

The accused would fill only a part of the amount and steal the rest. At first,  they siphoned off small sums, but in the last couple of months, the amount increased.

It is said that the accused spent the money on an all-India tour and to purchase luxury goods.

The accused are in judicial custody and further investigations are underway.