Women Held In Bank Fraud Case

Woman held in bank fraud case-The Hindu

Three months after registering a criminal case against a Manager of Union Bank of India (UBI) and four women, heading non-governmental organisations on charge of defrauding the bank to the tune of Rs. 1.32 crore, the district crime branch (DCB) police have arrested a woman.

 

A special team led by Inspector of Police C. Ganapathy and comprising Sub Inspectors of Police Ravindran and Anitha arrested Manimegalai (Megala Trust), the fifth accused in the case at her house in Kamudhi on Friday.

 

Mr. Ganapathy said that they had already arrested M. Selvarani (Subapriya Social Service Trust), the fourth accused in the case, last month. The other accused — Manager C. Magendiran, the alleged mastermind of the fraud when he served in the Sayalkudi branch of UBI, M. Selvarani (Balaji Trust) and Mariya Haster (Udayam Trust) were absconding after failing to get anticipatory bails.

 

The police said that Magendiran connived with the four women, who had links with self- help groups (SHG), and defrauded the bank. The accused either distributed loans to the SHGs, violating bank norms or distributed fake loans to members of non-existing SHGs, police added.

 

The fraud came to light in February when bank officials conducted an inspection before Sesa Marikumaran took over as Manager of the Sayalkudi branch, police said.

 

Salesman held

In another case, the DCB have arrested V. Murugan, salesman of a TASMAC retail outlet in Sengudi in RS Mangalam on charges of defrauding the TASMAC to the tune of Rs. 11.53 lakh in connivance with Supervisor I. Bala Ganapathy and another salesman K Muruhanandam.

 

A Special team arrested the accused in front of a TASMAC shop at Singanallur in Coimbatore two days ago. The supervisor was absconding while Muruganandam obtained anticipatory bail, Mr. Ganapathy said.

 

Syndicate Bank compensates debit card fraud victims-HansIndia- 30.05.2015

 

The Syndicate Bank in Picket has credited Rs10.68 lakh to 25 customers who were victims of debit card fraud which came to light last month. On April 24, customers of the bank complained to the Marredpally Police that fraudulent withdrawals were made from their accounts of a minimum of Rs 10,000. This was soon after they withdrew cash from the branch’s ATM. 

An investigation revealed that the fraudsters attached a skimmer to the ATM card slot to steal data and clone the cards. The PIN number was collected through a video camera attached to the ceiling of the ATM center. The accused then cloned the debit cards and withdrew cash from an ATM in Mumbai.

The account holders later staged a dharna outside the bank premises and warned that if they were not compensated by May 30, they would not allow the branch to function. The investigation is being assisted by Central Crime Station (CCS), Hyderabad and National Payment Corporation of India. The bank has now appealed to all the customers to change their PIN numbers and to exercise caution while making withdrawals. 

CBI begins probe into bank fraud involving loans over Rs 3000 crores-DNA

The Central Bureau of Investigation (CBI) has begun a probe into the suspected corporate fraud involving bank loans of over Rs 3,000 crore after three banks – Andhra Bank, Canara Bank and UCO Bank cried foul. The banks have declared the loan accounts of three group companies promoted by Praveen Kumar Tayal as fraud following an alleged diversion of funds to the group's privately-held ventures, especially in real estate.
The three companies of the group that are under the CBI scanner are Krishna Knitwear Technology Ltd, Jayabharat Textile and Real Estate Ltd, and Eskay Knit (India).