BackYes Bank official arrested in online trading scam
Atul Mishra, a Yes Bank business relationship manager, is accused of helping the owners of the Noida-based firm that perpetrated Rs3,700 crore online trading scam
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Noida: A Yes Bank official has been arrested in connection with the Rs3,700 crore online trading scam by a Special Investigating Team (SIT) of Uttar Pradesh police.
Atul Mishra, a business relationship manager with the bank, is accused of helping the owners of the Noida-based firm that perpetrated the fraud in stashing around Rs1,000 crore black money, for which he allegedly received a hefty kickback, said Western Uttar Pradesh Special Task Force (STF) SP Rajeev Narayan Mishra.
The bank official, who was arrested from Ghaziabad on Wednesday, was on Thursday produced before a court which sent him to judicial custody. Anubhav Mittal, the main accused in Rs3,700 crore online trading scam, had been remanded in five-day police custody by a court on Wednesday. Mittal’s firm allegedly owned two accounts in the Rajnagar branch of the bank where Mishra was posted.
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Uttar Pradesh Special Task Force (UP STF) had unearthed online trading scam and arrested Mittal and two others on 2 February. Uttar Pradesh DGP Javed Ahmed had also formed an SIT to carry out a probe into it. The Enforcement Directorate’s (ED) zonal office in Lucknow registered a criminal case under the Prevention of Money Laundering Act (PMLA) based on an FIR of the Uttar Pradesh STF to probe the alleged Rs3,700 ponzi scam case perpetrated by seeking fake social media ‘likes’ from lakhs of gullible investors by Mittal’s Noida-based firm.
The ED conducted searches and raids, in various Uttar Pradesh cities, at the business and residential premises of the owners of the firm and seized incriminating documents, that reveal assets worth crores of rupees of the accused.
‘YES Bank has Zero tolerance to any instance of employee misconduct. The Bank is aware of the case in point and we are fully cooperating with the law enforcement agencies to address the same’, a Yes Bank spokesperson told Mint.
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