the Punjab Vigilance Bureau on Friday arrested assistant manager Bikramjit Singh and senior manager Ashok Singh Mann for committing financial fraud of Rs 1.24 Crore in the Central Cooperative Bank Rupnagar.
A spokesperson of the State Vigilance Bureau (VB) said during the investigation of a complaint received in the Bureau it was found that accused Bikrmajit Singh has misappropriated the money by misusing account IDs, passwords and details of other employees and bank managers during his posting in the bank between 2011 and 2016.
He said the accused manager was responsible for the clearance of inward checks from various banks and reconciliation of the current account of the State Cooperative Bank.
The spokesperson said the accused had misused his official position and transferred the embezzled money into the accounts of his family and relatives and a total amount of Rs 1,24,46,547 was usurped in such accounts.
He said Bikramajit Singh was also held guilty in an internal investigation done by the cooperative bank itself two years ago.
The spokesperson further added that Bikramjit Singh used the ID and passwords of senior manager Ashok Singh Mann besides other employees between 2011 and 2016. the accused had mostly been using the password and IDs of Ashok Singh Mann but he never complained to the bank and higher authorities.
Hence he was also booked in this case for his connivance in committing the financial fraud.