Punjab VB arrests two cooperative bank officers for embezzling ₹1.24 crore
Assistant manager misappropriated amount by misusing account IDs, passwords and details of employees during his posting in the Central Cooperative Bank, Rupnagar, from 2011-16
The Punjab vigilance bureau on Friday arrested assistant manager Bikramjit Singh and senior manager Ashok Singh Mann for defrauding the Central Cooperative Bank, Rupnagar, of ₹1.24 crore.
Stating this in Chandigarh, a State Vigilance Bureau (VB) spokesperson said during the investigation of a complaint it was found that Bikramjit Singh has misappropriated the money by misusing account IDs, passwords and details of other employees and bank managers during his posting in the bank from 2011-16.
The accused manager was deputed in the clearance/draft amount transfer of inward checks from banks and reconciliation of the current account of the state cooperative bank.
He alleged that the accused had misused his official position and transferred the embezzled money into the accounts of his family and relatives and a total of ₹1,24,46,547 was usurped in such accounts.
He said Bikramjit Singh was also held guilty in an internal investigation done by the cooperative bank two years ago.
Bikramjit Singh used the ID and passwords of senior manager Ashok Singh Mann besides other employees from 2011-16.
During the probe, it came to light that the accused had mostly been using password and IDs of Ashok Singh Mann but he never complained to the bank and higher authorities. Hence, he was also booked in this case for his connivance in committing the fraud.
A case was registered under the Prevention of Corruption Act and Sections 420, 409, 120-B of the IPC against both the accused at the VB police station in Ludhiana.