A shocking financial fraud has come to light in Mangaluru, where a bank manager is accused of misusing nearly ₹3 crore by deceiving both the bank and its customers. The accused, identified as Derek Ajit D’Souza, allegedly sanctioned fraudulent loans and transferred funds without customer consent.
Complaint Filed Against Bank Manager
A formal complaint was lodged at the Cyber, Economic, and Narcotics (CEN) police station against D’Souza, who served as the manager at Bank of Baroda’s Konaje branch. The investigation reveals that from September 22, 2022, to February 7, 2024, he allegedly approved loans worth ₹1.44 crore against the fixed deposits of senior citizens without informing them. The funds were then transferred to the accounts of other individuals involved in the scam.
How the Fraud Happened
- Customers had instructed the bank to invest their savings in fixed deposits.
- Instead of generating official computer-printed FD receipts, the accused provided fake handwritten receipts.
- A sum of ₹67.94 lakh was transferred from customer accounts to third parties without creating actual FDs.
- The total amount misused in the scam amounted to ₹2.91 crore.
The accused allegedly redirected the funds to multiple individuals, including Norbert D’Souza, Anil Prakash D’Souza, Vasant K, Taniyappa, Paul D’Souza, Yashodhar, Mahesh Kulashekhar, and Ramakrishna Alva, among others.
Bank Investigation and Recovery Efforts
The fraud was detected during an internal audit conducted by the bank. A departmental inquiry was initiated, leading to partial recovery of funds. Some customers returned ₹2.21 crore, but ₹69.83 lakh remains unpaid, as the accused allegedly used it for personal benefit.
The police have launched an investigation, and legal action is expected against those involved. Authorities are also probing how such large-scale financial misconduct went undetected for so long.
