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Central Bank of India’s former manager and an employee have been arrested for allegedly cheating account holders by enhancing their credit limit and sanctioning loans in their name.

Fraud of 2.35 crore has been committed by opening fake bank accounts, HindustanTimes . Livemint's sister publication has reported citing the police.

The accused Krishan Kumar, and Vaishali Chauhan, assistant branch manager, have been booked under sections 406, 420, 467, 471, and 120B of the IPC.

The complaint was filed by Deepak Yadav, the present manager of the bank.

The police said that in his complaint, Yadav alleged that during his stay as manager between 2019 and April 2022, he, along with Vaishali and others, misused the limit of bank account holders.

As per the report, it was found that the ownership of various forwarders debt recovery services (FDRS) was changed without customers’ mandate in favour of those to whom overdraft limits were sanctioned through which fake accounts were opened consequently in CBS system by Krishan Kumar, the then branch head, and Vaishali Chauhan.

Apart from this, the complainant also mentioned the involvement of more people in the case and alleged that the accused in connivance with others maliciously cheated the bank by committing such acts.

“It is a clear case of fraud, criminal breach of trust and forgery committed by all the accused persons and further it is cheating and misrepresentation for purposeful gain," reads the FIR.

The police also said that arrest of more people is likely in the case.

 

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