Four men were arrested in Belgharia on Thursday for helping the clerk of a high court-appointed receiver siphon off more than Rs 1 crore by forging the signature of the officer. The clerk, Subir Pal, is absconding.

A preliminary investigation revealed that Pal had used over 550 cheques to transfer the amount from the receiver’s account over the past three years.

He kept portions of the money in the bank accounts of his four friends before moving them to his own accounts.

“Gautam Mitra, the receiver, noticed that the money was missing from his account on December 7. He lodged a complaint with Hare Street police station and the detective department took charge of the investigation,” said the deputy commissioner of police, detective department, Jawed Shamim.

The arrested four received a commission for allowing Pal to use their accounts. “They told us that he had given them Rs 1 lakh to Rs 2 lakh while withdrawing the money,” said an investigator.

A few years ago, Mitra was appointed receiver by the high court in a case involving a Strand Road building. The value of the property, over Rs 1 crore, was deposited to Punjab National Bank.

“Pal used to pay the building’s electricity and other bills and kept Mitra’s cheque book with him. He started forging the officer’s signature and transferring money to his friends’ accounts,” said an investigator.

According to police, Pal started siphoning off the money in August 2005.

He used 569 leafs of cheque books to withdraw the amount.

The money has not yet been traced. “Banks were closed for Muharram. We will examine the documents in the bank on Friday. Bank officials will be questioned to ascertain whether they were involved in the fraud or not,” said the deputy commissioner.