Bank manager arrested in loan fraud case

Chandigarh, May 6

Punjab Vigilance Bureau (VB), has apprehended bank manager Sukhwant Singh, an accused and Proclaimed Offender (PO), from IGI Airport, New Delhi upon his arrival from USA.

An official spokesperson of the state VB said that the above mentioned accused was wanted in a case registered under Section 409, 420, 467, 468, 471, 120-B of the IPC and 13 (D) read with 13(2) of the Prevention of Corruption Act at VB police station, Amritsar range.

The accused was declared PO in the aforementioned case by the court on 6 April, 2011, for fraudulently giving loans amounting to Rs 2.50 crore by misusing his official position as manager of the Central Cooperative Bank, branch Guru Ka Bagh, Amritsar.

The accused had fled to USA and subsequently a look-out circular was issued against him by the Bureau.

VB was alerted about the arrival of the accused by Immigration Authorities of IGI Airport.