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Thursday, December 02, 2021

Senior manager of public sector bank booked for siphoning off Rs 63.24 lakh

Senior police inspector Shahaji Shinde of Wadala police station confirmed that an FIR has been registered against the senior manager Neeraj Kumar.

By: Express News Service | Mumbai |
Updated: November 21, 2021 9:08:16 am
Neeraj Kumar in his confession during the internal inquiry said that he allegedly siphoned off the money and used it to buy a plot at Patna in Bihar, police said.

A senior manager of a public sector bank was booked for allegedly misusing his position and siphoning off Rs 63.24 lakh from the bank’s account.

The police said that the accused used non-operational bank accounts and overdrafts method to siphon off the money from time to time between May and July and a case was registered at Wadala police station after officials at the bank’s headquarters noticed the fraud.

Senior police inspector Shahaji Shinde of Wadala police station confirmed that an FIR has been registered against the senior manager Neeraj Kumar.

Kumar in his confession during the internal inquiry said that he allegedly siphoned off the money and used it to buy a plot at Patna in Bihar, police said.

Explaining the modus operandi opted by the manager, an officer said that Kumar zeroed down on a few bank accounts that have not been operated for the last few months.

“As he has the authority because he holds the position of a senior manager, he increased the transaction limit of those accounts after which he got overdrafts issued on the names of those bank accounts. And after that amount got deposited in those accounts, he then transferred the amount to his and his wife’s bank account in Patna and which he used to buy a plot there,” said a source.

Subsequently, the manager closed the temporary overdrafts created on those bank accounts and brought the transaction limits back to normal.

Police said that a report on the day-to-day functioning of the branch is sent to their headquarters, who during one of their recent evaluations sensed something amiss. “It was found that a lot of overdraft transactions had taken place in the recent months and the money was diverted in one of the bank employee’s accounts,” said an officer.

An internal inquiry was set up during which Kumar’s role was identified, and he purportedly confessed that he used the money to buy a plot in his hometown.

The chief manager working with the same branch then reported the matter to the Wadala police. The employee had submitted a complaint application on August 30 and after verifying the complaint a case was registered early this week under Sections 409 (criminal breach of trust by a public servant, or by banker, merchant or agent) and 420 (cheating) of the Indian Penal Code.

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