Banker in India Steals $1m to Cover His Gambling Losses

Bairishetty Karthik, a 29-year-old deputy bank manager from Nasampet, India, has been accused of stealing over a million dollars from his employer following an investigation into missing funds.

created fake loans then used his powers as a bank manager to approve the loans

According to police officer S. Ravi Kumar, the police were called in after an internal audit showed that Bairishetty has siphoned off ₹86,500,000 ($1,038,272) in bank funds. Bairishetty created fake loans then used his powers as a bank manager to approve the loans and transfer the money to his personal accounts.

Further investigation found that Bairishetty had lost the funds wagering on online games like gin rummy. The police identified gambling addiction as Bairishetty’s motivation for the crime.

Bairishetty made a break for it and is currently on the lam, remaining at large as the Warangal district police force conducts a manhunt in the area.

The bank’s regional head, O. Srinivas, issued a statement reassuring the public the bank would continue business as usual and that the loss would not impact customers’ funds.

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• Source: https://www.vegasslotsonline.com/news/2023/08/15/banker-on-the-run-after-stealing-1m-to-fund-gambling/