An ongoing investigation by the Siddapura police has uncovered allegations of collusion between officials of a public sector bank and employees of private investment firms, resulting in the illegal transfer of over Rs 13 crore from the account of a deceased woman.
The investigation revealed that officials of the State Bank of India (SBI) and employees of private investment firms allegedly facilitated the transfer of Rs 13.15 crore from the account of Shakuntala Venkatappa Krishnappa at an SBI branch on KR Road in Basavanagudi to another account opened in her name at Manali in Thiruvallur district of Tamil Nadu.
Shakuntala, who passed away on August 1, 2019, had an account opened in her name at the Manali branch on March 25, 2022, despite her demise. The culprits are suspected to have forged documents and her signature to carry out the illegal transactions, despite the account noting her death. The transferred amount was reportedly divided among around 25 beneficiaries.
Principal City Civil and Sessions Judge Muralidhara Pai B on March 19 rejected the anticipatory bail plea of one of the accused, Susan Saritha D’Souza, also known as Suman, who worked in the Operations Department of Aditya Birla Sunlife Mutual Fund. The prosecution alleged that Susan collaborated with another accused, Sandeep, to update mutual funds in the deceased’s name, forge her signatures, and fabricate documents. Susan purportedly received Rs 1 lakh from Accused No. 1 via Google Pay for her role in the scheme.
The complaint filed with the Siddapura police by Malathi Vaidyanatha, wife of former High Court judge Vaidyanatha, detailed how Shakuntala had established a charitable trust to aid the needy. Malathi, the executor of Shakuntala’s will, revealed that Shakuntala’s investments in mutual funds and shares through Integrated Enterprises (India) Private Limited were utilized by the trust to assist those in need. Shockingly, upon visiting the bank, Malathi discovered the unauthorized transfer of crores of rupees without the knowledge of the trust’s trustees or the executor of the will.
Malathi lodged the complaint with the Siddapura police on April 28, 2023, against SBI officers, Integrated Enterprises (India) Private Limited, and other unidentified individuals involved in the alleged fraudulent activities.
