Janta Sahakari Bank officer arrested in Pune over Rs 5-crore fraud
The arrested employee has been identified as Ganesh Vasudeo Bhate, who has retired from the bank. He has been charged for being negligent in discharging his duties in connection with opening of at least three bank accounts, which subsequent EOW investigations have found to be fake.pune Updated: Nov 15, 2017 14:48 IST
The Economic Offences Wing (EOW) of Pune Police has arrested a former junior bank official of the Janata Sahakari Bank, Pimpri division, for failing to carry out due diligence as per the mandatory know your customer (KYC) norms. The case involves a fraud estimated to be between Rs 4.50 crore and Rs 5 crore.
The arrested employee has been identified as Ganesh Vasudeo Bhate, who has retired from the bank. He has been charged for being negligent in discharging his duties in connection with opening of at least three bank accounts, which subsequent EOW investigations have found to be fake.
Bhate was produced before the court which remanded him to magisterial custody till November 17. Bhate has been charged under IPC 465,467,468,470,120 B and also under section 82 of Maharashtra Registration Act 1908.
Police inspector Chandrakant Thakur, investigation officer in the case, said that Bhate did not cross-check and verify necessary documents like PAN card, Shop Act License, proof of address and other bonafide documents. He is alleged to have merely signed on photocopies of documents for the opening of the accounts.
The case was registered by real estate developer Ashok Nahar who alleged that a fake bank account was opened in the name of his firm Moksha Developers. An EOW investigation into the case revealed that Bhate, being in charge of checking documents, did not adhere to KYC norms, which led to the fraud taking place.
Explaining details about the fraud itself, PI Thakur said that a professional forgers approached buyers to purchase flats and then expressed a readiness to provide easy loans.
The documents submitted by the victims were used to open the bogus bank accounts. The fraudsters transferred loan amounts taken from Janata Sahakari bank out, PI Thakur said.
The EOW had earlier arrested Vishal Bhatia alias Vishal Rajput (28), a resident of New Delhi on charges of impersonation, for taking on the identity of Ashok Nahar. Also , advocate Nandkumar Takalkar was arrested along with real estate agents Yusuf Shaikh and Manoj Gaikwad.