Bengaluru, Feb 7 (IANS): Police have launched a hunt for the accused who escaped with Rs 1.03 crore cash, which was siphoned off over a period of time, while depositing into the ATM machine, police said on Tuesday.

The accused is identified as Rajesh Mesta, a resident of Chinnamma Layout and a native of Uttara Kannada district. Police said that the accused who worked in a private agency had escaped with the booty along with wife.

Police explained that the accused worked at Secure Value India Limited. The agency has a contract to collect money from banks and deposit it to the ATM's. The accused Rajesh Mesta was the in-charge.

He was tasked with depositing money into ATMs of BTM Layout, Koramangala and Bannerghatta Road from December 28, 2022. The accused remained absent from February 1 without informing the office.

The office grew suspicious when his phone remained switched off. When they verified the accounts of the deposited money in ATMs, it came to light that he had not deposited Rs 1.03 crore and taken it for himself.

S.A. Raghavendra, Deputy Director of Secure Value India agency has filed a complaint with Madiwala police station in this regard. The investigation is on.