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November 30, 2022

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Punjab: Two co-operative bank officials arrested for financial fraud of 1.24 crore, Vigilance took action

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The accused had transferred fraudulent money to the accounts of his family members and relatives by misusing his official position. A total of one crore 24 lakh 46 thousand 547 rupees was scammed on behalf of the accused by sending money to such accounts.

The Punjab Vigilance Bureau on Friday arrested Assistant Manager Bikramjit Singh and Senior Manager Ashok Singh Mann for committing a financial fraud of Rs 1,24,46,547 in Central Cooperative Bank Rupnagar. State Vigilance Bureau spokesperson said that during the investigation of the complaint, it has been found that accused Bikramjit Singh had misused the account ID, password and other details of the bank managers and other employees of the bank during his posting in the bank from the year 2011 to 2016. Huge amount of money was cheated.

He said that the accused manager was deputed to transfer clearance/draft amount of inward checks from different banks and reconciliation of current accounts of the State Cooperative Bank. The accused had transferred fraudulent money to the accounts of his family members and relatives by misusing his official position. A total of one crore 24 lakh 46 thousand 547 rupees was scammed on behalf of the accused by sending money to such accounts.

Bikramjit Singh was also convicted in the investigation conducted by the cooperative bank two years ago. Apart from senior manager Ashok Singh Mann, he used passwords of other employees’ IDs from 2011 to 2016. During investigation, it has come to the fore that the accused mostly used Ashok Singh Mann’s ID and password but Ashok Singh Mann never made any complaint to the bank and higher authorities in this regard. Therefore, a case has also been registered against him on the charge of collusion. A case has been registered against both the accused at Vigilance Bureau police station, Ludhiana.

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