The Bank Fraud Investigation Wing of the Central Crime Branch has arrested a branch manager and a clerk of Indian Bank’s Santhome branch in Chennai for their alleged involvement in a major fund misappropriation case.
According to the police, the arrests were made following a complaint filed by Sathya Narayana, the Regional Manager of Indian Bank. In his complaint to the City Police Commissioner, he accused Sundar Mohan Maji, the branch manager of the Santhome branch, and P. Jayasingh, a clerk at the same branch, of serious financial misconduct.
Misuse of Customer Accounts
As per the complaint, the two bank officials misused their positions by fraudulently withdrawing money from customer accounts. They allegedly forged customer signatures and even accessed dormant accounts—those that had been inactive for a long time—to siphon off funds without the account holders’ knowledge.
Loans Taken Without Customers’ Knowledge
The officials also allegedly took out loans in the names of unsuspecting customers. These loans were then settled by pledging jewellery, possibly stolen or fraudulently acquired. In one instance, they are accused of swindling 146.5 grams of gold jewellery from a customer. The total loss caused by their fraudulent activities has been estimated at ₹23 lakh, as per the bank’s internal findings.
Arrest and Legal Action
The Central Crime Branch investigated the case and arrested both Sundar Mohan Maji and P. Jayasingh. They were presented before the court and have been remanded to judicial custody as the investigation continues.
This case has raised serious concerns over internal monitoring and customer account security at banking institutions. Authorities have assured that strict action will be taken and all efforts are being made to recover the defrauded amount.
