Two employees of the Central Cooperative Bank's branch in Samana were booked on Sunday on charges of allegedly siphoning Rs 29.53 lakh from public accounts.
The police have registered a case under section 409 (Criminal breach of trust by public servant, or by banker) of IPC against bank manager Subhash Chand Garg and assistant manager Kuljinder Singh both posted at the bank's branch in Samana.
SHO Samana police station Surinderpal Singh said the case was registered on the basis of the inquiry conducted by Rajesh Kumar Singla, senior manager at Central Cooperative Bank in Mansa along with managers Major Singh and Jaswant Singh.
The police said the siphoning of public money came to fore during an audit of the bank accounts in August last year, following which an inquiry committee was constituted.
"It was found that the accused had opened more than 70 bogus accounts, and used to transfer and siphoning public money deposited in the original accounts through these fake bank accounts," SHO said.
"We carried out an investigation on our level and found suspicious elements, which substantiated findings of the inquiry report," the police said. However, no arrest has been made so far.
The SHO said the accused will be arrested at the earliest.