BoB manager booked in Rs 3.7 cr embezzlement case in Himachal Pradesh

Shimla, Sep 12 (PTI) A senior manager at Bank of Baroda's Kasumpti branch has been booked for criminal breach of trust under Section 316(5) of the BNS for allegedly embezzling funds worth Rs 3.70 crore, police said on Friday.

The case was registered based on a complaint lodged by a deputy regional manager of the bank, alleging that the accused unlawfully transferred the amount from a government account to the account of a woman on August 22 and 27 without permission -- a clear violation of banking norms.

Subsequently, the funds were transferred to other accounts, and some of it was withdrawn in cash. The remaining sum of Rs 90.95 lakh still lying in the woman's account has been frozen, the complainant said.

During investigation, the accused manager admitted to the crime in writing and also disclosed the involvement of some other individuals in the fraud.

Police are investigating all aspects of the case, including the trail of transactions and the accounts where the embezzled funds were moved, officials added. PTI BPL SMV ARI