Punjab police nab bank manager who duped account holders for 50 Cr

Mohali: Over complaints of fraudulent transfer of money, a bank manager has been arrested by the Mullanpur Police in Punjab. The arrestee, who is the manager of a private bank, allegedly duped many of the bank account holders, obtaining Rs 50 crore and transferring the amount to his relatives’ accounts, The Indian Express reported.

Police identified the accused bank manager as Gaurav Kumar, while his co-accused- also a bank employee- Sanjeet Kumar is absconding. Mullanpur Station House Officer (SHO) Simranjeet Singh informed that they are in pursuit of the absconding. Also, police is questioning the arrested person for more details of the fraud.

The two accused are employees of Axis Bank’s branch in Bansepur village near Mullanpur. As per the case, the bank manager faked the signatures of his victims to deposit cheques in favour of his relatives.

The victims noticed the fraud after they checked their bank statements.

One of the account holders, who lost Rs 9 lakhs, said that they are worried about whether they will get their money back. Bank officials informed the account holder that they would proceed as per the directions of their senior officials.