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A serious case has come to light raising questions on the security of the banking system in Ghaziabad. A bank employee embezzled about Rs 65 lakh from customers’ accounts for investing in the stock market. This case, which came to light after a check bounce complaint, is now under police investigation.
New Delhi. A shocking case of embezzlement of lakhs of rupees from customers’ accounts by a bank employee has come to light in Ghaziabad. An employee of Punjab and Sindh Bank withdrew about Rs 65 lakh from several accounts to invest in the stock market. The police have arrested the accused and a thorough investigation of the case is underway. This matter came to light when a customer’s check bounced and the bank management became suspicious.
Big fraud exposed due to check bounce
This entire matter came to light on November 21, when Himanshu Gupta, branch manager of Punjab and Sindh Bank, lodged a complaint with the police. After a customer’s check bounced, senior officials of the bank started checking the accounts. Investigation revealed that huge amounts of money were missing from many accounts. After this, the bank took the matter seriously and informed the police, due to which this big scam was exposed.
Trying to hide losses in stock market
According to Modinagar Assistant Police Commissioner Amit Saxena, 29-year-old accused Somil Tiwari used the investment money of customers for trading in the stock market. To hide the initial loss, he started the game of withdrawing money from one account and depositing it in another account. The accused admitted that he thought there would be profit from the market and he would put the money back, but the losses kept increasing.
Inactive accounts targeted, investigation ongoing
During interrogation, Somil Tiwari told that he used to target those accounts in which transactions were very less. He opened fake accounts and withdrew the money by misusing RTGS transfer and cheques. The police have arrested the accused and efforts are being made to find out whether any other person was involved in this fraud or not. Besides, other accounts of the bank are also being investigated, so that the full amount and scope of the loss can be clarified.
