THE MUMBAI Police are on the trail of what may be a scam of bogus bank accounts created in the name of government departments to transfer money to it from genuine bank accounts, officers said. The Cuffe Parade police arrested Pravin Shingvan (21), a Bandra resident, on Monday and prevented transfer of Rs 10 crore from the Nashik account of the Tribal Development Corporation of Maharashtra to a fake account created in the corporation’s name in a south Mumbai bank.
The police believe that the arrested youth can lead them to the main accused who has access to some insider information.The suspected scam came to light after a Know Your Customer (KYC) form of the private bank in Cuffe Parade, where the accused had created a bogus account in the name of the Tribal Development Corporation, was submitted.
Following procedure, the private bank sent an intimation to a high-ranking official in the corporation about the new account. “On receiving the intimation, the official immediately contacted the bank and informed it that no such new account had been created by the department,” said the zonal deputy commissioner, Manoj Kumar Sharma. The bank checked its records and found that the account had been created fraudulently using bogus paperwork. What was more suspicious was that the fake account holder had asked the Nashik bank, which has the corporation’s genuine account, to transfer over Rs 10 crore the corporation had as fixed deposit.
The police then laid a trap and on Monday, when Shingvan visited the bank to enquire about the bogus account, he was arrested. “Shingvan, however, appears to be just someone who was sent to operate the account. There have to be people involved with some inside information about the amount kept at the particular bank account,” an officer said.
He added that similar cases have been seen in Pune and Nashik in the past year.