Mangalore : Bunder police have arrested two persons on the charges   of fraudulent practices and cheating a private bank.

The two  arrested namely Gautam and Anilraj hailing from  Mangaladevi  were employees of Global Management Company which was entrusted with the task of loading cash to the ATMs of ICICI Bank.

As per reports, the two who owned the secret locks of the ATMs used to remove cash from unguarded ATMs of the bank  during night time. They were engaged in cheating   in this fashion  since the past ten months and had misused as much as Rs 48.5 lakhs.

The bungling came to light when there was a mismatch of accounts during audit both by Global Management Company and the ICICI Bank and an enquiry brought to fore the irregularities.

The arrest was on the basis of a complaint lodged by the Bank. Investigations are in progress.