Ranchi: Lolus Lakra, manager of the Central Bank of India’s Birsa Chowk branch, has been arrested by the Special Investigation Team (SIT) for his alleged role in illegally withdrawing ₹56.50 crore from the Jharkhand State Electricity Employees’ Master Trust (JSEEMT) fund. The fraudulent activity reportedly involved fake accounts, and investigators have recovered ₹37.18 lakh in cash and a mobile phone from Lakra.
How the Case Was Initiated
The investigation began when a JSEEMT manager filed a case on October 4 at the CID police station, reporting suspicious transactions under the Banking and Negotiable Securities Act (BNS). The SIT responded by launching a detailed investigation into the alleged fraud.
Apart from the JSEEMT case, SIT is investigating five other cases of suspected fund misappropriations, totaling over ₹100 crore. These cases span multiple government agencies, including the Jharkhand Tourism Development Corporation Limited and Jharkhand Urja Utpadan Nigam Limited.
SIT Freezes Suspect Bank Accounts
To limit potential losses, SIT has initiated collaboration with banks and frozen 350 accounts with suspicious transactions, holding a combined ₹47.20 crore. Six arrests have been made, and investigators have confiscated cash worth ₹1.23 crore and ornaments valued at ₹16.70 lakh.
