Bank manager nabbed for Rs 60cr fraud
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- Published 3.05.13
A former manager of the Gariahat branch of Indian Overseas Bank was arrested from his Lake Gardens home on Tuesday night for his alleged involvement in a Rs 60 crore fraud reported by the West Bengal State Cooperative Bank. More than Rs 2 crore was recovered from his apartment in Hyderabad on Wednesday, police said.
Bhaskar Tolety, 52, had been suspended after the state co-operative bank lodged a complaint on March 19, alleging that it had received fake certificates for fixed deposits of Rs 20 crore each with the Hastings branch of UCO Bank, Gariahat branch of Indian Overseas Bank and Selimpore branch of Punjab National Bank.
The scam came to light soon after the West Bengal Infrastructure and Development Finance Corporation reported a fixed deposit fraud of Rs 120 crore in March this year.
“Bhaskar Tolety had worked in connivance with the cheats and allowed the state co-operative bank’s money to be deposited in a private account instead of that of the bank’s. The money was then siphoned off from the private account,” said Pallab Kanti Ghosh, joint commissioner (crime).
Based on Tolety’s statement, a team of Calcutta police raided his home at Malkajgiri in Hyderabad on Wednesday and seized Rs 2.53 crore from there. “He apparently received the money as commission for his role in facilitating the fraud,” said an officer of the anti-bank fraud section of the detective department.
Four others, all associates of alleged mastermind Indrajeet Chatterjee, who is behind bars, were arrested over the past few weeks.
Tolety is the second bank manager arrested for involvement in a fraud in recent times. The senior branch manager of UCO Bank’s Circus Avenue branch, Alois Lakra, was arrested for his involvement in the Rs 120 crore fraud reported by the finance corporation and Rs 1.27 crore seized from his bank accounts.
The West Bengal University of Fishery and Animal Sciences, too, had reported a fraud of Rs 5 crore and the state marketing board a fraud of Rs 17 crore earlier this year — taking the cumulative amount of all four frauds to a whopping 200 crore.
A man named Najim Sajjad was arrested at the airport on Monday for carrying $17,000. Sajjad claimed he was a cricketer. A passenger carrying more than $5,000 has to give a declaration. Sajjad allegedly did not do so.
Krishna Mondal of Sonarpur was arrested on Wednesday and an improvised firearm loaded with a cartridge was seized from him.