Phagwara bank manager, agent booked for fraud
The police have registered a case under Section 420 of the against the manager of Bank of India’s Phagwara branch and a commission agent for allegedly defrauding a businessman of lakhs of rupees under the pretext of opening a bank account and investing money.
Superintendent of Police Rupinder Kaur Bhatti said the complainant Jasbir Singh, a businessman residing on Railway Road, Phagwara, had known manager Nirmal Singh for some time. The manager assured him that he would open a bank account in his name and invest his money in profitable government schemes.
Trusting the manager, the complainant handed over lakhs of rupees in cash on different occasions. However, the manager neither opened the account, nor invested the money as promised. When Jasbir Singh later enquired about the status of his account and requested documents, the manager started avoiding him. Under pressure, the manager handed over some documents, assuring him that the money had been invested by a commission agent as they worked together and had significant transactions in the bank.
On demanding his money back, the complainant was given checks issued by the commission agent Davinder Singh, owner of Guru Nanak Traders at Dana Mandi and a resident of Salarpur. However, the checks bounced and for nearly two years, Jasbir Singh had been trying to recover his money. Moreover, the commission agent had filed a counter-case against the complainant and his family in a court.
After Jasbir Singh escalated the matter with the Deputy Inspector General (DIG) of Jalandhar Range, an investigation led by SP Rupinder Kaur Bhatti confirmed that both accused had conspired to commit a fraud. Following legal consultation with the District Attorney, SSP Gaurav Toora ordered the registration of a case against bank manager Nirmal Singh, resident of Gali No. 1, Preet Nagar, Phagwara, and commission agent Davinder Singh.
