A case of alleged financial fraud has come to light in Ghaziabad, where a bank employee was arrested for illegally withdrawing large sums of money from customer accounts.
Police said an employee of Punjab and Sind Bank’s Patla branch was taken into custody for allegedly embezzling more than Rs 64 lakh using fraudulent banking transactions. The accused has been identified as Somil Tiwari, aged 29, who was working as a customer service associate at the branch.
According to police, Tiwari was arrested on December 13 following a tip off from an informer. The arrest came after a case was registered at Nivadi police station on November 21 based on a complaint filed by the Bank branch manager. Investigators said the accused had withdrawn money from multiple customer accounts without their consent.
During interrogation, Tiwari reportedly told police that he had incurred heavy losses while trading in the stock market. “In an attempt to recover those financial losses, he allegedly opened a fake bank account in the name of an acquaintance and transferred customers’ money into that account. He then withdrew the funds and reinvested them in stock market trading, where he again incurred losses,” an officer said.
Police stated that the accused used forged methods, including RTGS Real-Time Gross Settlement transfers and loose cheques, to siphon off a total amount of Rs 64,87,442 from customer accounts.
Based on the complaint, an FIR was registered under relevant sections of the Bharatiya Nyaya Sanhita, including Sections 316(5) and 61(2). A special police team was then formed to track and apprehend the accused.
Officials said further legal proceedings are underway. “As of now, one case has been registered against the accused at Nivadi police station, and inquiry is being conducted to ascertain whether he has any previous criminal record,” an officer said.
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