Big Fraud in Bank of Baroda! Employee Accused of Embezzling Rs 2.92 Crore in Vadodara
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In a shocking case of financial fraud, a former senior executive at Baroda Global Shared Services Ltd (BGSSL), working at the Alkapuri branch of Bank of Baroda (BOB) in Vadodara, has been accused of stealing ₹2.92 crore by illegally transferring money from the bank’s account to a personal account. The alleged fraud took place over 28 days last year, and a police case has now been registered at the Sayajiganj police station.
What is BGSSL?
Baroda Global Shared Services Ltd (BGSSL) is a company based in Mumbai that provides services to Bank of Baroda. It is responsible for hiring, assigning, and supervising staff for the bank’s head office under a formal agreement. The Vadodara office of BGSSL, located at Suraj Plaza, employs around 111 people. This office handles outsourced banking work based on certain rules and conditions.
Who is the accused?
The person accused in this case is Mrugesh Chandrakant Bhatt, a resident of Saindham Society in Khodiyar Nagar. Mrugesh had been working with BGSSL since November 7, 2011. He was posted in Bank of Baroda’s Internet Payment Gateway Department. His job involved entering online data and uploading daily banking transactions into settlement files at the Alkapuri sub-branch of BGSSL. His salary was reported to be ₹25,598 per month.
How did the fraud happen?
According to reports, Mrugesh misused his position to make false entries in the bank’s general ledger account. Between July 7 and July 30 last year, he allegedly transferred ₹3.94 crore into bank accounts held by him and his parents.
When was it discovered?
The fraud came to light on July 31, when Bank of Baroda’s outsourcing agency noticed the irregularities and started an internal investigation. During the inquiry, Mrugesh returned ₹1.02 crore using three cheques. However, the remaining ₹2.92 crore could not be recovered.
What action was taken?
After several failed attempts to recover the rest of the money, the Vice President of BGSSL filed an official police complaint against Mrugesh at the Sayajiganj police station. The case has now been registered, and further investigation is underway. More details will be released soon.
Very Bad & sad too, Whosoever is guilty should be punished without delay.
Amount involved be recovered by selling their assets.