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Gopalganj, Bihar: Bank management has intensified action in the case of embezzlement of ₹2.98 crore at the Bhore branch of the Gopalganj Central Co-operative Bank.
The bank has decided to terminate the services of three suspended employees. Four other employees were demoted from clerks to assistants and instructed to deposit the amount withdrawn from their IDs within a month. Failure to deposit the amount within the stipulated time could also lead to termination of their services.
Chaudhary Sanjay Kumar, Ramakant, Sanjeev Kumar, and Amit Kumar Jha have been recommended for termination, while action will be taken against three employees.
The bank management has also decided to file an FIR against the employees involved and file a lawsuit in court to recover the embezzled amount.
The ₹2.98 crore financial scam at the Bhore branch of The Gopalganj Central Co-operative Bank was an “inside job” orchestrated by senior bank employees who manipulated the accounts of unsuspecting clients.
How scam was done?
Customers deposited their money into Fixed Deposits. The bank officials created FDs and provide FD receipts to customers. After that, without the customers’ consent or knowledge, the former branch manager and his close associates used their official computer credentials (IDs) to approve fake loans against those genuine FDs.
The fraudsters siphoned money out of 67 genuine customer accounts. They then transferred those fraudulent loan funds directly into 12 bank accounts owned by their close relatives and acquaintances.
The case of embezzlement came to light in 2023-24. Following this, the employees involved were suspended and departmental action was initiated. Now, this strict decision by the Board of Directors will further expedite the termination and recovery process.
Four employees, Sohail Ahmed, Sumit Kumar, Kumar Varun, and Nitish Kumar, have been given a one-month extension. A decision has been made to remove them from their clerk positions and demote them to assistants.
