UP: PNB branch manager, associate held for Rs 12 crore fraud in Balrampur

Balrampur (UP), Sep 25 (PTI) A branch manager of Punjab National Bank (PNB) and another individual have been arrested on Thursday for allegedly embezzling over Rs 12 crore by opening fake loan accounts, officials said.

Superintendent of Police Vikas Kumar said a complaint was lodged by the Chief General Manager of PNB's Ayodhya circle office, alleging that Mahesh Tripathi, the then branch manager of the Nehar Balaganj branch of the bank, along with eight colleagues, opened multiple fake loan accounts and prepared forged and fabricated documents to fraudulently siphon off crores of rupees.

During the investigation, the allegations were found to be true, and an FIR was registered on August 15, he added.

"It was established that by creating around 46 fake loan accounts, a total of Rs 8.09 crore was embezzled, while Rs 3.93 crore was misappropriated through 40 Mudra loan accounts," Kumar said.

During the probe, the role of PSP Construction Company, owned by one of the accused, Samarjeet Singh, also came under scrutiny, the officer stated.

Tripathi, who was serving as senior branch manager at the time, and Samarjeet Singh have been arrested and are being produced before a court. Tripathi had been absconding since the registration of the FIR, police mentioned. PTI COR ABN ABN SHS MPL MPL