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Banker arrested for illegally diverting ₹2 crore cash from bank’s currency chest
Crime Branch unit 4 of the Pune city police have arrested banker and his accomplices for illegally diverting ₹2 crore cash from public sector bank’s exchequer, said officials on Monday
Crime Branch unit 4 of the Pune city police have arrested banker and his accomplices for illegally diverting ₹2 crore cash from public sector bank’s exchequer to get personal benefit, said officials on Monday.
The accused have been identified as Amol Goraknath Kanchar 45, resident of Aurangabad; Santosh Vaijinath Mahajan 43, resident of Nashik, and Sushil Suresh Ravale, 34, resident of Ambegaon.
According to police officials, Ravale is working as a deputy manager at Bank of Maharashtra’s Manchar Currency Chest. Police said that the accused illegally diverted ₹ 2 crore cash which was released by Reserve Bank of India (RBI) to Bank of Maharashtra’s Manchar Currency Chest to supply it for the 26 branches of the lending firm.
On Friday, crime branch unit 4 officer received information about currency being supplied in Pune through a white car in Camp. Police laid a trap and arrested accused and seized ₹2 crore. During interrogation it was observed that cash was illegally diverted from bank’s Currency Chest.
Police said that the accused planned to transfer this amount to ‘Kanchar Foundation’ run by accused Kanchar, against which they will get ₹3 crore in return. Of these, ₹2 crore will be again transferred to bank and remaining amount would be distributed between them. To get the benefit of this offer, accused Kanchar took help of his banker friend Ravale and withdrew cash from bank.
Ganesh Mane, senior police inspector at unit 4, said, “We have arrested the accused and confirmed through the respective bank about the cash. The said cash was released to distribute for other bank branches but was diverted by Kanchar with the help of his banker friend.”
A case under sections of 408, 409,420 and 34 of the Indian Penal Code (IPC) has been registered at Manchar police station under Pune rural police and further investigation is underway.
