SBI official embezzles money through fraudulent ATM cards, arrested

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New Delhi, Jan 7 (UNI) A State Bank of India official, who fraudulently activated 'dead' accounts and withdrew four lakh rupees from them after getting unauthorised ATM cards, has been arrested.

SBI Field Officer Shashi Bhushan used his good relations with the SBI Malaviya Nagar Branch Manager to obtain information about accounts with huge deposits not being used for long, and on his own, got ATM cards issued for them. He then fraudulently transferred money from other such accounts to these and then withdrew it with his ATM cards.

The police got on his trail after the branch filed a complaint at the Malviya Nagar police station about the fraudulent withdrawal of Rs 1,81,700 through ATM and the account-holders complained they had never applied for them.

The official was detected after the police examined the closed circuit TV footage which showed him withdrawing money. On interrogation, he confessed to his crime and disclosed he had withdrawn as much as Rs four to 4.5 lakh through this method.

The immense financial crisis he was facing due to heavy losses in the stock market had led him to take the step.

Police have also seized the forged vouchers which he had unauthorisedly and fraudulently prepared to transfer money to the accounts for which he had obtained the ATM cards.


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