A branch manager and a clerk from Indian Bank's Santhome branch in Chennai have been taken into custody by the Central Crime Branch's Bank Fraud Investigation Wing on suspicion of being involved in a significant fund theft case.
The police claim that Sathya Narayana, the regional manager of Indian Bank, lodged the complaint that led to the arrests. He accused P. Jayasingh, a clerk at the Santhome branch, and Sundar Mohan Maji, the branch manager, of grave financial malfeasance in his complaint to the City Police Commissioner.
Misuse of Customer Accounts
The complaint claims that by fraudulently taking money out of customer accounts, the two bank employees abused their positions. They allegedly obtained dormant accounts those that had not been used for a long period of time and falsified customer signatures to siphon off funds without the account holders’ knowledge.
Loans Taken Without Customers’ Knowledge
The officials also allegedly took out loans in the names of unsuspecting customers. These loans were then settled by pledging jewellery, possibly stolen or fraudulently acquired. In one instance, they are accused of swindling 146.5 grams of gold jewellery from a customer. The total loss caused by their fraudulent activities has been estimated at Rs.23 lakh, as per the bank’s internal findings.
Arrest and Legal Action
The Central Crime Branch investigated the case and arrested both Sundar Mohan Maji and P. Jayasingh. They were presented before the court and have been remanded to judicial custody as the investigation continues.
This case has raised serious concerns over internal monitoring and customer account security at banking institutions. Authorities have assured that strict action will be taken and all efforts are being made to recover the defrauded amount.
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