Bank official booked for squandering customers’ funds

The Chamba police have booked a bank official for allegedly transferring crores of rupees from customers’ accounts into the accounts of other individuals.

The official, posted in the Banikhet town branch of the bank, had lost huge amount of money in the stock market and after exhausting his money, he allegedly started transferring funds from customers’ accounts into the accounts of other individuals.

The fraud came to light after some clients approached the bank management. A police complaint was lodged subsequently.

The police have launched a probe into the matter after registering a case against the bank official. Sources said the case involved a scam of approximately Rs 4 crore. The bank official allegedly transferred funds from the accounts of 27 customers into the accounts of other individuals.

When the affected bank customers discovered discrepancies in their accounts, they filed a formal complaint with the bank. Besides demanding sealing of their accounts, they called for a thorough probe in the matter.

After receiving complaints from the affected customers, the bank management launched an internal inquiry and sent the official concerned on leave.

The bank has not made an official statement on the matter so far.

It remained unclear for how long the official in question had been conducting these fraudulent activities. More details are expected to emerge after the investigation is completed.

Superintendent of Police Abhishek Yadav said investigation were under way.

The exact amount involved in the fraud will be known during the course of the investigation.