HP State Cooperative Bank Assistant Manager arrested for Rs 4.02 crore fraud
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In a major development, the Himachal Pradesh Police have arrested Jyoti Prakash, Assistant Manager at the Nauradhar branch of the HP State Cooperative Bank, in connection with an embezzlement case involving Rs 4.02 crore.
Jyoti Prakash, a resident of Bhuiara in Rajgarh area in Sirmaur district, was taken into custody as part of an ongoing investigation led by a special investigation team under the supervision of Sangrah police station incharge.
Superintendent of Police Raman Kumar Meena informed that the SIT was thoroughly probing the matter. The accused is scheduled to be presented in court on Monday. According to SP Meena, the investigation team has been conducting correspondence with various banks to gather information about accounts opened by the accused.
Accounts with any suspicious transactions have been frozen and the investigation extends to the bank accounts held by the accused’s wife as well, he said.
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The preliminary investigation has revealed that Jyoti Prakash had been working at the Nauradhar branch since 2012. During his tenure, he allegedly kept fixed deposit receipts (FDRs) and cheque books of customers in his possession, which he may have misused for the fraudulent transactions.
The SP also mentioned that an audit of the bank’s records was underway, which would clarify the origins and destination of the embezzled funds and identify any other individuals who might be involved in the scam.
The case came to light on August 10 when the District Manager of the bank, Priyadarshan Pandey, along with other officials filed a complaint at the Sangrah police station, accusing the Assistant Manager of embezzling Rs 4.02 crore.
In response to the allegations, the bank management has suspended seven employees, in addition to the accused, and issued notices to 10 others as part of the internal investigation.
