Indian Bank Manager arrested for transferring Rs 5.7 crore to girlfriend

Indian Bank Manager arrested for transferring Rs 5.7 crore to girlfriend
Indian Bank Manager arrested for transferring Rs 5.7 crore to girlfriend: The branch manager of the Indian Bank branch in Bengaluru’s Hanumanthanagar was recently arrested for allegedly diverting Rs 5.7 crore to his girlfriend whom he met on a dating app.

A complaint was filed by the zonal manager of Indian Bank against the branch manager named Hari Shankar, and the court has sent him to 10-day police custody.

The police have also named Shankar’s colleagues – assistant branch manager Kausalya Jerai and clerk Muniraju as suspects in an FIR. According to police sources, the alleged fraud took place between May 13 and 19.

During the interrogation, the branch manager claimed that he lost the money to cybercriminals who lured him to use a dating application and the police are verifying his claims.

According to the police, a woman customer deposited Rs 1.3 crore in her name as a Fixed Deposit and availed Rs 75 lakh loan against the deposit. The customer submitted the relevant documents. The branch manager allegedly tampered with the documents and used them as security to release Rs 5.7 crore through multiple installments as overdraft.

The bank conducted an internal probe and revealed that the funds were diverted to 28 bank accounts of several banks in West Bengal and two accounts in Karnataka in 136 transactions. Shankar allegedly misused two of his colleagues to commit the fraud and the colleagues are being interrogated by the police.

Hari Shankar’s personal money amounting to Rs 12.5 lakh was also transferred to the accounts and later these transactions took place. Indian Bank has been able to freeze a bank account to which Rs 7 lakh was diverted.

Although Shankar is claiming that he lost all the money to a woman who he met on a dating application through which he even had audio conversations, the police are not believing him. “Being a bank manager and aware of cyber frauds, we do not believe his claims. We have collected his mobile phone and will probe further,” said an officer.

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