Canara Bank Fraud: Employees opened fake firm and transferred Rs.3 crore to their relatives

The Jabalpur Economic Investigation Bureau team has registered a case against several officials of Canara Bank for embezzlement of Rs 3 crore. The case was filed based on a complaint made by the Assistant Manager of the regional office of Canara Bank to the Jabalpur EOW (Economic Offenses Wing).
According to the complaint, the then branch manager of Canara Bank in Gotegaon, Narsinghpur district, Maniraj Patel, along with Manager Girish Kumbhare, Probationary Officer Rahul Lokhare, and Sunil Kumar Dubey, colluded to embezzle Rs 2 crore 97 lakh. They allegedly gave this amount to their own relatives in the name of fake companies and then used the money for their own purposes.
The irregularities were discovered when Ganesh Chandra Sarkar, assistant manager of the regional office, noticed discrepancies in the bank’s ledger. He reported the matter to the Jabalpur EOW, leading to the registration of the case and the initiation of an investigation.
During the investigation, it was found that the accused officers had approved and distributed funds to two companies, Udham Enterprises and M/s Patel Traders. However, upon further examination, it was revealed that these companies were non-existent. The officers had transferred the loan amount directly to their own savings accounts through NEFT (National Electronic Funds Transfer) and DD (Demand Draft), without obtaining the customer’s signature or following proper banking procedures.
The Jabalpur EOW is currently investigating this case of embezzlement at Canara Bank.
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