Chandigarh, July 29
The Punjab Vigilance Bureau (VB) on Friday arrested two officers of the Central Cooperative Bank, Rupnagar, for committing financial fraud to the tune of Rs 1,24,46,547.
Assitant Manager Bikramjit Singh and Senior Manager Ashok Singh Mann were involved in the embezzlement.
A spokesperson of the bureau said during the investigation of a complaint, accused Bikramjit was found to have misappropriated the huge money by misusing account IDs, passwords and details of senior manager Ashok besides other employees and bank managers during his posting in the bank from the year 2011 to 2016.
He informed that the accused manager was deputed in the clearance/draft amount transfer of inward checks from various 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 total amount of Rs. 1,24,46,547 was usurped in such accounts.
He informed that Bikramjit was held guilty in an internal investigation done by the cooperative bank two years ago.
During probe, it was found that the accused had mostly been using password and IDs of Ashok but he never complained to the bank or higher authorities.
Ashok was also booked in the case for his connivance in committing the financial fraud.
The spokesperson said a case under various sections of the IPC and Prevention of Corruption Act has been registered at VB police station, Ludhiana, and further investigation was under way.
Punjab Vigilance Bureau arrests 2 coop bank officers for embezzlement of Rs 1.24 crore
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