Major action has been taken in the Rs 160 crore Fixed Deposit (FD) scam that came to light in Haryana. A former employee of the bank has been arrested in this case. Investigative agencies say that this case is not just a simple mistake but could be part of a planned fraud. After this revelation, questions have also been raised regarding the security of the banking system and government funds.
How did the scam happen?
According to the investigation, the bank’s former relationship manager Dilip Kumar Raghav is accused of hatching the entire conspiracy with the main accused. It is being told that instead of keeping the huge amount deposited by Municipal Corporation Panchkula in a safe FD, it was transferred to fake accounts. To give confidence to the corporation, fake statements and documents were continuously given. Everything was shown correct on paper, due to which no one had any doubts for a long time.
such an open pole
This scam was exposed when the Municipal Corporation asked to transfer the money when an FD of Rs 58 crore matured. The statement from the bank showed that the amount had been transferred, but when the actual account was checked, there was no money there. From here the matter became serious. When the remaining FDs were examined, it was found that many entries were fake. This made it clear that the system was being gamed for a long time.
On the other hand, Kotak Mahindra Bank spokesperson has said that as per the investigation so far, all the transactions have taken place as per banking rules. The bank itself has lodged a formal complaint with the Panchkula Police and is cooperating in the investigation. The Bureau has registered a case of cheating, criminal breach of trust, forgery and criminal conspiracy under various sections of BNS and Prevention of Corruption Act.