Police allege Srinivas Chamakuri tried to steal close to $17M from NAB
A man from Sydney’s south west has been charged with attempting to steal almost $17 million from the National Australia Bank to fund an extensive property portfolio.
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A man has appeared in Fairfield Local Court after he allegedly attempted to steal $16.8 million from the National Australia Bank.
Srinivas Naidu Chamakuri, 47, was arrested last month following the execution of a search warrant at a home in Fairfield East, with police allegedly seizing electronic devices and documentation – including internal NAB vouchers.
According to court documents tendered by police, inquiries by detectives from the State Crime Command’s Financial Crimes Squad revealed fraudulent bank deposit guarantees had been used to purchase properties across the state, for an inflated commission.
Chamakuri was charged with 11 offences including dishonestly obtaining financial advantage by deception, four counts of dishonestly obtaining financial advantage by deception (attempt serious offence), participating in a criminal group contributing criminal activity and five counts of deal with identity info to commit indictable offence.
Police will allege Chamakuri was a known associate of a former NAB employee who is alleged to have attempted to defraud her employer by more than $21.6 million.
NAB’s Executive Group Investigations and Fraud, Mr Chris Sheehan, said the organisation had worked closely with police throughout the investigation.
“NAB referred the matter to the authorities as soon as our systems detected unusual activity,” Mr Sheehan said.
“No NAB customers were impacted and no financial loss occurred as a result of the actions alleged by police, and the former employee was dismissed by NAB.”
The 38-year-old woman has been charged with nine offences by police and granted conditional bail to appear at Downing Centre Local Court on Friday November 27, 2020.
Chamakuri was granted strict conditional bail to appear in the same court December 7, 2020.
Investigations are continuing and further arrests are expected.