Bank Fraud

Union Bank FD Scam: Crores of rupees Defrauded, Employees arrested


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Nashik: A case has come to light where an insurance representative at the Union Bank branch in Manmad misappropriated funds entrusted by fixed depositors for deposits and renewals. This incident has caused significant concern among the depositors, and the suspect, Sandip Deshmukh, has been taken into police custody.

The FD scam at the Manmad Union Bank has become a major talking point. The scam involves a misappropriation of ₹1 crore 39 lakh 65 thousand. Upon discovering the fraud, the bank officials filed a complaint with the police, leading to the arrest of the insurance representative, Sandip Deshmukh.

Sandip Deshmukh took bearer checks from hundreds of depositors for fixed deposits and renewals and misappropriated ₹1 crore 39 lakh 65 thousand by cashing them in his own name. There is speculation that the amount involved in the scam may increase. MLA Suhas Kande has met with the defrauded customers and demanded the establishment of a SIT for further investigation.

Given the scale of the misappropriation, the bank has immediately appointed a four-member investigation team to look into the matter. The bank has assured the depositors that their money will be returned and has lodged a complaint against the representative with the Economic Offenses Wing. The police are currently conducting further investigations.

In another incident, Dhyey Multistate Nidhi Limited Bank in Ahmednagar has defrauded 113 depositors of ₹5 crore 74 lakh. A complaint has been lodged against seven directors at the Tophkhana Police Station in Ahmednagar. The bank, which was established a few years ago, promised an interest rate of 14.40% and attracted deposits from customers, including Sujata Nevse, who had invested ₹3 lakh 75 thousand for her children’s education. After the maturity period, depositors found they could not retrieve their money, as the directors had absconded before the maturity period was over.

One Comment

  1. यूनियन बैंक आफ इंडिया मे मेने भी इनसोरेनश करवा था दो साल तक किसत 1 लाख की दो किसत दिया अब आथिर्क सिथित ठीक नहीं है पैसे वापस नहीं कर रहे है मेरे साथ भी धोखा हो गया है कईबार लिखित मे शिकायत किया लेकिन कुछ जवाब नहीं दिया गया है में बहुत परेशान हू कृपया कोई उपाय बताऐ कैसे अपने पैसे मिलेगा

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