Bank officer embezzles Rs 2.7 Cr of depositors' money; goes missing

Karwar: A massive bank fraud has come to light at a public sector bank here. A man working as an Assistant Manager at Bank of Baroda in Yellapur has fled with Rs 2.7 crores embezzled from the depositors’ accounts, police said on Monday.

Addressing the media, District Superintendent of Police Dr. Suman D Pennekar said that Kumar B who worked as an Assistant manager at Yellapur illegally siphoned off money from depositors’ accounts into the bank accounts of his wife and relatives.

The accused covertly used the login IDs of Bank clerks and other staff to carry out the transfers. The fraudulent transfers took place over a period of 4 to 5 months, she added.

The SP said that an audit revealed that deposits of about Rs 2.7 crores were misappropriated. The bank has lodged a complaint after the fraud came to light recently, she added.

Dr. Pennekar said that Kumar’s wife has been named as an accused in the case as the moeny was transferred to her account. However, the woman’s bank account is empty as money was transferred before the crime came to light.

Meanwhile, Kumar has disappeared and a missing complaint was registered about a week ago. At the time, none at the bank was aware of the fraud had taken place, she said, and added that efforts are underway to trace the accused.