Two financial institution workers arrested for fraudulent transactions

The Saidapet police have arrested two employees members of a non-public financial institution for swindling cash by fraudulent strategies, and launched a hunt for the financial institution supervisor who has been absconding. 

According to the police, Sulaiman, 32, residing on VGP Road in Saidapet, has been sustaining a financial savings account on the Catholic Syrian Bank (CSB) on Lawyer Jaganathan Street in Guindy. As he repeatedly visited the financial institution, the department supervisor, Saminathan, turned acquainted with him. The supervisor advised Sulaiman that each time he wanted to withdraw cash, he would ship an worker to his home. From then on, when contacted, the supervisor would ship an worker to Sulaiman’s residence with the mandatory types, accumulate the signatures, and hand over the cash.

On July 2, Sulaiman contacted Saminathan, saying that he urgently wanted to pledge his gold ornaments. Following this, Saminathan despatched the financial institution cashier, Prasad, to his home. Sulaiman then handed over 162 sovereigns of gold ornaments and signed the pledge types. Later, each time he known as up the supervisor asking for cash, Saminathan saved suspending it, citing numerous causes. Only when Sulaiman went to the financial institution to investigate on July 15, did he come to know that Saminathan had been suspended for defrauding a number of individuals.

Realising that he had been cheated of 162 sovereigns of gold ornaments, Sulaiman lodged a criticism on the Saidapet Police Station, searching for to take motion in opposition to Saminathan and the financial institution workers, and to get better his jewels. 

The investigation revealed that Saminathan, together with Prasad and different workers, had pledged gold ornaments within the names of inactive account holders by forging their signatures, and fraudulently obtained loans. Saminathan had pledged Sulaiman’s 162 sovereigns of gold in one other particular person’s identify on the similar financial institution, and used it to fraudulently avail a mortgage of ₹90 lakh.

Following this, the police arrested the 2 accused – Prasad, 25, and Divakar, 32, financial institution working supervisor, Ok.Ok. Nagar. Meanwhile, the police groups are actively looking for the primary accused, Saminathan, together with a couple of others concerned within the case.