Microfinance

Grameen Koota employee commits fraud of Rs 1.1 Lakh – Police case lodged

An employee of Grameen Koota, which is a division of Grameen Financial Services has allegedly committed a fraud of Rs 1.1 Lakh by forging the signatures of the companies senior officials to get loans sanctioned. The employee named Rudresh is also alleged to have misappropriated the loan repayments made by borrowers , the J.P Nagar Police has informed.


The main accused Rudresh is a native of Gubbi town in Tumkur District of Karnataka. His suspicious behavior over the last few months prompted the area manager to launch an investigation which led to the unearthing of the fraud. The employee then reportedly confessed to embezzling a sum of Rs 1.11 Lakh and has paid back more than Rs 60,000 before he went absconding. The J.P Nagar police have registered a case and are looking to apprehend him very soon.

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