Two bank officials held for helping bank manager siphon off ₹28 crore from customer accounts

Rahul Sharma, a senior employee at the Noida branch of the South Indian Bank Limited, was booked on charges of siphoning off at least ₹28 crore from the bank and transferring it to accounts of his family members. He is currently on the run

The Noida police on Monday arrested two people for allegedly helping the manager of the private bank Noida siphon away ₹28 crore from the customer accounts in the bank, senior police officers said on Tuesday, adding that the suspect bank manager was booked in the case in December but he is currently on the run.

The arrested suspects are Shailendra Gaur (45), a resident of Dwarka in New Delhi, and Devraj Singh (28), a resident of Baghpat, said police. (HT Photo)

According to police, suspect Rahul Sharma, a senior employee at the Noida branch of the South Indian Bank Limited, was booked on charges of siphoning off at least ₹28 crore from the bank and transferring it to accounts of his family members. The case was registered based on a complaint from the bank representatives, police said.

Shakti Avasthy, deputy commissioner of police (crime), said the involvement of two more suspects came to fore during the course of investigation and they were arrested on Monday. The arrested suspects are Shailendra Gaur (45), a resident of Dwarka in New Delhi, and Devraj Singh (28), a resident of Baghpat.

“They were arrested by a police team from Sector 18, Noida, on Monday evening. During interrogation, they revealed that they had provided details of bank accounts to Sharma from which he embezzled the money. Upon investigation, it was found that ₹4 crore was transferred out of these accounts,” said Avasthy.

The office revealed that the two suspects earned a commission for providing bank account details to the prime suspect.

The police have also recovered ₹1,22,500, three computer sets, two laptops, four mobile phones, 75 digital signature pen drives, a car and other incriminating documents from the suspects, said the officer.

The suspects face charges of cheating, and forgery under the Indian Penal Code, police said.

Meanwhile, the prime suspect in the case, Sharma, is suspected to have fled abroad following the fraud, added Avasthy.

“Apart from these two arrests, there are some more suspects on the police radar, who we believe helped the prime suspect in the fraud. Sharma is suspected to have fled abroad and look-out circulars were issued against him in December itself. Further investigation is underway,” said Avasthy.