Bank Manager Arrested For Fraud

Bank Manager Arrested for Rs 9 Cr Fraud -Times of India 15.03.2015

THOOTHUKUDI:A manager of the Bank of India, Illipilli branch, Erode district along with two of his aides were arrested by District Crime Branch Police, on Saturday, for allegedly siphoning off Rs 9 crore fund of V O Chidambaranar Port Trust, Tuticorin.
The arrested trio were identified as Samipillai, the manager, and his aides, Sathyamurthi, from Bavani, Erode district, and Manoharan, from Seranmanagar, Coimbatore district.

Police claimed VOC Port Trust had issued a tender for Rs 10.5 crore on February 10 inviting bankers for high interest. Bank of India, Illipilli branch had quoted an interest rate of 8.9 per cent and won the bid. Following the completion of the tender process Rs 10.5 crore was transferred to Illipilli branch on Febraury 13 for 378 days (one year and 13 days).

But on February 16 the Illipilli branch had received an alleged e-mail from S Natarajan, vice-chairman, Port Trust, giving permission to transfer  Rs 9 crore to another private account at Karur Vysya Bank, Tiruppur branch. The manager of Karur Vysya Bank suspected the transfer because of the amount and had informed both higher officials and the Port Trust. The Port Trust informed Karur Vysya Bank that they had not sent any such mail authorising transfer of Rs 9 crores and hence had requested a freeze on the account to which the Rs 9 crore was transferred.

In the meantime Natarajan had also registered a complaint at the District Crime Branch claiming that his account had been hacked and a mail had been sent in his name. Following the complaint police had arrested Samipillai, Sathyamurthi and Manoharan, who  had helped him in his fraudulent act. The Supreintendent of Police, M.Durai, claimed that, Tony, another accused was absconding.

Bank manager swindles 1.5 cr

Adilabad: A branch manager of the Union Bank of India in Mancherial town allegedly swindled Rs 1.5 crore by creating forged documents in the names of 15 persons stating that they had availed loan from the bank. It is learnt that he took the help of some brokers to deceive the bank. Fraud came to light about 10 days ago when four teachers working in Dandepally and Jannaram mandals received notices from the bank asking them to repay loans with interest.
 
Alarmed on receiving notices, the teachers approached the bank. Officials showed them documents that 15 persons had availed Rs 1.5 crore as loan from the Union Bank of India by pledging a building located in Jannaram town as surety. In the documents, it was written that the bank had sanctioned Rs 12 lakh for each person. It is learnt that 11 others also received notices from the bank. The victims immediately approached a district police official requesting him to order a probe and render justice to them. A teacher, A Devayya, said he was not aware of the location of the bank in Mancherial town. He said his family members were going through mental agony after bank officials served notice to him. 

Over 3.70 lakh complaints against banks in 5 years-Business Standard

Over 3.70 lakh complaints have been received by the banking ombudsman during last five years with highest number of complaints, 1.02 lakh, against State Bank of India, reveals an RTI response.

The data received shows that 3,70,543 complaints have been received by 15 banking ombudsman during 2009-10 to 2013-14.

During 2013-14, 76573 complaints have been received against Public Sector Banks, Private Banks and Foreign Banks operational in the country with maximum number of complaints, 21,206, against largest bank State Bank of India, it says.

Punjab and Sind bank recorded least number of complaints during the year in the Public Sector Banks category.

Among the foreign banks operational in the country Standard Chartered recorded highest number of 3357 complaints during the year while the least number of complaints were against BNP Paribas, State Bank of Mauritius and JP Morgan Chase Bank National Association with one complaint each, the response to Ramesh Sharma said.

In the Private Bank category, ICICI Bank recorded highest number of complaints during 2013-14 with 5325 complaints against it while the least number of complaints were against Nainital Bank with just 15 complaints during the year, it said.