Venkataraman was an officer in a leading nationalized beach with years of service to his credit. During his long period of service, he worked in different capacities and sections. His attitude and behavior made him a believe in the organization. Having been posted in a big get-go based in a large city, he was not keen on getting further promotions.
On angiotensin-converting enzyme occasion, when he was working as an incharge of the draft issue section, he issued bundles of drawing books from the main investment firm of the security forms of the branch and unbroken the akin in his grip in an almirah provided to him. One charming morning, he removed three drawing books out of the stock of books valued below Rs. 10,000 which he had in his suffer custody and kept them in his house. He then started issuing drafts in various name form his house out of the aforementioned(prenominal) stolen drawing books by allotting correct branch serial rime obtained from the branch register under his control. The drafts were deposited in different banks/branches of the same bank in different accouns opened in the names of the payees of the drafts. These accounts were introduced by the bank employees, and some of them were in different representations only, same Mr. Venkataraman Aiyar, Mr Venkataraman Iyengar, etc.
The drafts thus deposited were presented in clearing and were passed in the normal tune without every doubt or suspicion. In the evening, he would inspect the concerned drawee offices and collect such paid drafts.
Having found this proficiency successful, he tried his hand at yet another. This cartridge clip he started issuing drafts in fictitious names or in the names of his close relatives drawn on outstations without any vouchers or deposits. After a few days, he would touch off the same drafts by allowing the credits to the respective accounts in his own branch by debiting the head office accounts. He go on to do this for about three months, causing a outrage of over Rs. 700,000 to the bank.
The fraud came to light...If you want to get a wide essay, order it on our website: Orderessay
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