Punjab Vigilance Bureau nabs man for embezzlement

Amritsar, October 27

The Punjab Vigilance Bureau (VB) during its ongoing campaign against corruption on Thursday arrested a resident of Dhoolka village in Amritsar for embezzlement. The accused has been identified as Jagjit Singh. He allegedly misappropriated an amount of Rs 9,75,771 in connivance with officials of the Central Cooperative Bank, Tarsika.

A spokesperson of VB said the accused, in connivance with bank manager Rakesh Kumar, cashier Ram Kishore and secretary Kulwant Singh, encashed the money after transferring it to the personal accounts of accused in other banks whereas the cooperative bank could not transfer such amount from offline account of kisan credit card to other bank accounts.

He said during the investigation, it was found that the bank officials had transferred Rs 51,94,900 to other banks in Gehri Mandi in Amritsar.

Seven accused had already been arrested who had committed this fraud in the above said bank to the tune of Rs 24 crore.