The Central Crime Branch (CCB) of Chennai police has registered a case against the managing director and branch manager of a private bank after an NRI couple from the United States reported a loss of Rs 4.36 crore. The fraud involved the unauthorised premature closure of their fixed deposits at the bank’s Anna Nagar branch.
The victims, Dr Vijay Janakiraman, a senior cardiologist in the US, and his wife, Malliga, are residents of Ashburn, Virginia. Dr Janakiraman had previously donated Rs 6 crore to establish the Tamil Chair at Harvard University. The couple, aged 77 and 70, had fixed deposits with the Anna Nagar branch of the bank.
According to the complaint filed by their power of attorney holder, M Ravi of T Nagar, the deposits were closed without the couple’s consent or knowledge, and the funds were transferred to unknown accounts. Ravi stated that neither he nor the couple received any alerts via SMS or email regarding the closures or the transactions.
Ravi alleged that the branch staff may have forged financial documents to divert the funds. He also claimed that repeated attempts to lodge complaints with the bank and the Reserve Bank of India went unanswered. “We suspect this was an organised act of deception involving forgery and cheating. The couple has suffered significant financial loss due to the bank’s actions,” Ravi said in his complaint.
The case is being investigated by Inspector N Minorsamy of the Bank Fraud Investigation Wing, Alpha 1, Central Crime Branch. Following a preliminary inquiry, police registered a case under Sections 409 (criminal breach of trust), 467 (forgery), 468 (forgery for the purpose of cheating), 471 (using forged documents as genuine), and 420 (cheating) of the Indian Penal Code.
Police confirmed that the case has been registered against the bank’s managing director and the Anna Nagar branch manager. Further investigation is ongoing.
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