Rs.3.7 Crore Fraud in Bank of Baroda in Shimla, Senior Manager Arrested

A big fraud of Rs 3.70 crore has been reported in Bank of Baroda in Shimla, Himachal Pradesh. Ankit Rathore, senior manager of the bank’s Kasumpti branch, has been accused of fraud.

According to the police, the bank manager transferred Rs 3 crore 70 lakh from the account of Agricultural Produce Marketing Committee (APMC) S&K to the bank account of a woman named Kalu Devi. After this, the bank manager transferred this amount to the accounts of his associates.

When the regional head of the bank came to know about this, he lodged a complaint with the police at Chhota Shimla police station. The police has started an investigation on the complaint of Bank of Baroda’s deputy regional manager Rajesh Kumar Gaba.

Bank of Baroda has also conducted an investigation at its own level. Irregularities were found in the initial investigation. The accounts in which the money was transferred have been frozen. There is still Rs 90.95 lakh left in the woman’s account.

According to the police, bank manager Ankit Rathore confessed his crime during police interrogation. He admitted that he committed this fraud for personal gain with the help of some unknown people. The police have registered a case under section 316 (5) of the Indian Penal Code and started investigation.

More details will be released soon.