Bank Manager Himself Committed ₹28 Cr Fraud From The Bank, Crime Branch Froze ₹4 Cr.

Bank Manager Himself Committed ₹28 Cr Fraud

Bank Manager Himself Committed ₹28 Cr Fraud From The Bank, Crime Branch Froze ₹4 Cr.

Rahul Sharma, a bank manager of South Indian Bank in Sector 22, Noida has been absconding with his family after defrauding the bank with ₹28 Crores.  Investigations are still in process.

Noida:  Till now you must have heard that only cyber criminals commit fraud with people, but a unique case has come to light in Noida.  In Noida, a bank manager himself committed a fraud of ₹28 crore from the bank and transferred the amount to the accounts of his relatives and acquaintances. In this case, the Crime Branch of Noida Commissionerate has frozen ₹4 crore. Noida Police is investigating the matter.

Know The Complete Story of the Bank Manager

Rahul Sharma was posted as Assistant Bank Manager at South Indian Bank in Sector 22, Noida.  While working in the bank, Rahul Sharma transferred an amount of more than ₹28 crore to his mother, wife, and other relatives by taking rented accounts.  Even after making such huge fortunes, he continued working in the bank.

In this matter, the Regional DGM of the bank has registered a case against unknown persons including the Assistant Manager, his mother, and his wife in the Noida Sector-24 Police Station.  Regional DGM of South Indian Bank, Ranjit R Nayak has complained to the police that he was receiving complaints of irregularities from the branch located in Sector-22 for the last few days.

On the basis of those serious irregularities in the bank accounts, the department got suspicious and started the investigation by its vigilance team.  Investigation revealed that Assistant Bank Manager Rahul Sharma had defrauded the company and the bank by transferring ₹28.07 crore from the account of a company named Associate Electronics Research Foundation located in Sector-48 to the accounts of his wife Bhumika Sharma and mother Seema and others.

In this case, officials of the Associate Electronics Research Foundation had lodged an email complaint on December 3, 4, and 6, alleging the transfer of money from the account without permission and information. Rahul Sharma, originally from Rohtak, Haryana, currently lives with his family in Sector 27.

Since the case was registered, he has been absconding along with his family.  Now, the police are searching for him.

After the case has been registered, the police are investigating the accounts to which the money has been transferred.  Under the scheme, for fraud, the assistant manager got the accounts of his mother and wife and other people opened in the concerned bank.  After verifying the accounts, the accused transferred crores of rupees from the private company to these accounts.  The amount was transferred more than 20 times.  DCP Crime Shakti Mohan Awasthi has confirmed that the fraud amount of ₹4 crore has been frozen. The inspection of the matter is still going on.

About The Author:

Yogesh Naager is a content marketer who specializes in the cybersecurity and B2B space.  Besides writing for the News4Hackers blog, he’s also written for brands including CollegeDunia, UtsavFashion, and NASSCOM.  Naager entered the field of content in an unusual way.  He began his career as an insurance sales executive, where he developed an interest in simplifying difficult concepts.  He also combines this interest with a love of narrative, which makes him a good writer in the cybersecurity field.  In the bottom line, he frequently writes for Craw Security.


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