Mangaluru: 4 employees of cash transfer firm vanish with bank’s Rs 7.5 cr

[email protected] (CD Network)
May 12, 2017

Mangaluru, May 12: Four employees of a cash transportation firm, who were tasked with ferrying Rs 7.5 crore from Yeyyadi branch of Axis Bank in Mangaluru to the bank’s Koramangala branch in Bengaluru on Friday, have gone missing with the money.

securitymen

The employees of Sis Prosegur Holdings, a logistics company, left with Rs 7.5 crore in a Mahindra Bolero for Bengaluru at 8.30 am on Thursday but did not reach the state capital tillFriday morning. The car was found abandoned at Arasu Kallahalli in Hunsur taluk of Chamarajanagar district on Friday evening.

Sis Prosegur Holdings chief Sachin filed a complaint at the Kankanady police station against the security guards, Basappa, Poovanna, custodian Parashuram and driver Karibasava. Their mobile phones have been switched off.

A police source said it was too early to say whether more people were involved in the daring heist. Bheemayya, the younger brother of Poovanna, who works as an office assistant in the Bengaluru branch of the security agency, has also gone missing. The siblings are said to be cousins of Basappa.

In a statement, a spokesperson for Axis Bank insisted that the cash transfer systems and processes of the bank were “robust and fully compliant with existing regulations”. “In this incident, the cash was being transferred by Sis Prosegur Holding Pvt Ltd, a cash transfer agency, and the amounts being transferred were fully insured. Neither the van in question nor the staff involved belonged to the bank,” the statement read.

Mangaluru Police Commissioner M Chandra Sekhar has formed a special team under ACPs Shruthi N S and Valentine D’Souza to crack the case.

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News Network
December 7,2025

Mangaluru, Dec 7: A 34-year-old fruit and vegetable trader in Mangaluru has reportedly lost ₹33.1 lakh after falling victim to an online investment scam run through a fake mobile app.

Police said the scam began in September, when the victim received a link on Facebook. Clicking it connected him to a WhatsApp number, where an unidentified person introduced a high-return investment scheme and instructed him to download an app.

To build trust, the fraudster asked him to invest ₹30,000 on September 24. The trader soon received ₹34,000 as “profit,” convincing him the scheme was genuine. Over the next two months, he transferred money in multiple instalments via Google Pay and IMPS to different scanner codes and bank accounts shared by the scammers. Between September 24 and December 3, he ended up sending a total of ₹33.1 lakh.

When he later requested a refund of his investment and promised returns, the scammers demanded additional payments, claiming he needed to pay a “service tax” first. Even after he paid a small amount, no money was returned, and the scammers continued pressuring him for more.

A case has been registered at the CEN Crime Police Station.

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