49 bank staff held this year for unauthorised withdrawal of money

A total of 49 bank staff, including managers from private and nationalised banks, have been arrested so far this year by the Bank Fraud Wing of the Greater Chennai Police for offences such as forgery and unauthorised withdrawal of money.

In July, Arjun Pandian of Dindigul lodged a complaint on behalf of his relatives – Deenadayalan Dinakar Pandian and his wife Chitra – who reside in the U.S., after they found that money had been withdrawn from their accounts. The couple maintained three accounts — one joint NRO (Non-Resident Ordinary) account and two NRE (Non-Resident External) accounts — at the IndusInd Bank in Anna Nagar.

The police found that ₹1.43 crore was unauthorisedly withdrawn from the accounts between June 6, 2015 and September 6, 2020. Investigation revealed that the bank staff had forged the couple’s signatures and transferred money using cash vouchers and cheques.

Further investigation revealed that a group of bank staff targeted fixed deposits of NRIs and liquidated them using forged signatures and by other fraudulent means. They have defrauded several victims to the tune of ₹8 crore.

In August, the police arrested Kulothungan, 49, a cashier; Venugopal, 50, a deputy manager; and Dhanasekaran, 41, a cashier.

On July 2, one Sulaiman contacted Saminathan to urgently pledge his gold ornaments. The manager sent cashier Prasad to his residence, and Sulaiman handed over 162 sovereigns of gold jewellery and signed forms. Later, when Sulaiman enquired about the loan amount, the manager cited reasons such as server problems and audits for the delay. Upon visiting the bank on July 15, he learnt that Saminathan had been suspended for defrauding multiple customers.

Following his complaint, the police arrested the manager and two staff members. Investigation revealed that Saminathan and Prasad had pledged gold ornaments in the names of inactive account holders by forging signatures and fraudulently obtained loans.

In another case, Patrick Hopman, branch manager of YES Bank Indira Nagar branch, went absconding on December 6, 2002, after taking leave. Subsequently, the bank received multiple complaints alleging illegal activities committed by him during his tenure. One complainant, Rajendran Meyyappan, an NRI, alleged that he and his wife had invested over ₹7.5 crore after Hopman promised higher returns. Their signatures were allegedly forged to siphon off funds from fixed deposits and mutual funds. The Central Crime Branch has issued a Red Corner Notice against Patrick Hopman, who is suspected to have fled to London.

In yet another incident, a private bank manager in charge of locker facilities at Velachery stole 238 grams of gold jewellery belonging to an NRI customer. He later melted and sold the jewellery to a pawn broker for ₹21 lakh. During interrogation, he confessed to having unauthorisedly accessed the locker, stealing the jewellery, selling it, and concealing the remaining cash inside the bank.

A senior Central Crime Branch officer said 18 cases of fraud, forgery, and misappropriation were registered this year. “We have identified 67 accused, including bank staff and managers. So far, 49 persons have been arrested, while 12 are absconding. Summons have been issued to six others for inquiry,” the officer said.

A senior Central Crime Branch officer said 18 cases of fraud, forgery and misappropriation were registered this year. “We have identified 67 accused, including bank staff and managers. So far, 49 persons have been arrested, while 12 are absconding. Summons have been issued to six others for enquiry,” the officer said.