Junagadh bank cashier booked for laundering Rs 18 lakh

Based on the complaint, the A-Division police booked the cashier under Prevention of Money Laundering Act and IPC sections related to forgery, cheating and criminal conspiracy.

By: Express News Service | Rajkot | Published: December 28, 2016 9:16 pm
Junagarh money laundering case, money laundering, bank, bank forgery, Rs 18 lakh laundered, Junagadh police, Junagadh Commercial Cooperative Bank , central government, demonetisation, demonetisation effects, currency ban, currency demonetisation, black money, india news JCCB is a cooperative bank with its headquarters in Junagadh.

A cashier of Junagadh Commercial Cooperative Bank went underground after manager of the bank filed a complaint against him stating he had laundered more than Rs 18 lakh by manipulating bank records after Central government demonetised high value currency notes on November 8.

Shailesh Lakhani, manager of Dolatpara barnch of (JCCB) in Junagadh filed a complaint at Junagadh’s A-Division police station on Tuesday evening naming branch cashier Deva Sinhar as accused. The manager said that the cashier laundered Rs 18,02000 between November 10 and December 20. Based on the complaint, the A-Division police booked the cashier under Prevention of Money Laundering Act and Indian Penal Code sections related to forgery, cheating and criminal conspiracy.

“Sinhar inflated the number of demonetised currency notes of Rs 500 and Rs 1,000 denominations which had been deposited by 15 customers of the bank. He did not credit the inflated amount to the bank account of respective customers but showed in the deposits received by the bank by forging records. At the same time, he showed withdrawal of equal amount from the bank in valid currency notes by manipulating records again. By this method, he laundered Rs 18,02000,” A-Division police inspector Raydhan Rathod told The Indian Express on Wednesday.

JCCB is a cooperative bank with its headquarters in Junagadh.

Police said the bank came to know about the alleged crime during an internal audit. “Following instructions from the Reserve Bank of India, the Dolatpara branch of JCCB undertook internal audit. During this exercise, the branch manager detected the discrepancy in the amount of cash withdrawn from the branch and he filed the police complaint,” said Rathod, who is investigating the case.

But police said that the cashier had got a whiff of the pending action and therefore he proceeded on sick leave on January 25. “Sinhar is a native of Keshod. We conducted search at his residence on Wednesday but he was not there. Meanwhile, we have recorded statements of 15 customers whose bank accounts the accused used to launder the money,” the PI added.

Incidentally, a business correspondent of a private bank was allegedly stabbed to death by three robbers during an illegal exchange of money in Keshod taluka of Junagadh early this month.

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