A suspected Rs 16-crore fund misappropriation has been reported at Mysuru’s Muslim Cooperative Bank, with the bank’s Chief Executive Officer accusing former branch manager Syed Mansoor of manipulating the banking system, media outlets say.
Mansoor, who served as branch manager from 2009 to 2023, allegedly misused the ‘maker and checker’ mechanism to divert funds.
The allegations have raised concerns over internal controls and financial oversight at the cooperative bank. Further details of the alleged transactions and the investigation are awaited.
