Coop officials held for swindling depositors' money

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Pudukkottai, Tamil Nadu, Aug 15 (UNI) The Commercial Crime Investigation Wing (CCIW) Police arrested two cooperative bank officials here yesterday on charge of swindling bank money.

Police said P Perumalraj (56), Secretary of the Primary Agricultural Cooperative Bank in Venganur, near here and A Ilango (43), an Office Assistant, were arrested.

The duo, in connivance with three staff members of the bank had swindled deposits to the tune of Rs 17.5 lakh in the past several years, police said.

The modus operandi was to receive the deposits make entries in the passbooks of the depositors without corresponding entries in the bank records.

Cases against them was registered under Sec 408, 467, 204 (A) and 120 (b) of the IPC pertaining to charges of creating bogus records and tampering with the official records or evidence.

Later, the arrested were remanded to judicial custody,police added.

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