Cyber Crime
Bank Manager Arrested for Siphoning Rs 13.5 Crore from NHAI Account Using Clone Cheques
RUDRAPUR: Two officials of IndusInd Bank, a manager and a cashier, were arrested on Wednesday in Udham Singh Nagar district for their involvement in a Rs 13.5 crore fraud using counterfeit checks. The fraudulent scheme involved withdrawing significant amounts from a joint account held by the National Highways Authority of India (NHAI) and the Competent Authority for Land Acquisition (CALA). The arrests followed an investigation that linked the bank employees to the criminals behind the scheme.
According to police, the investigation began when special land acquisition officer Kaustubh Mishra filed a complaint against the bank’s manager, Devendra Singh from Kashipur, and cashier, Priyam Singh from Rudrapur, at the Transit Camp police station on September 2. In response, five police teams were assembled to investigate the case.
Senior Superintendent of Police (SSP) Manjunath TC stated that after reviewing CCTV footage from August 28, August 31, and September 2, and interrogating bank staff, it became clear that three different individuals had visited the bank to deposit the fake checks. One of the suspects spent a significant amount of time in the bank manager’s office, implicating his involvement in the fraud.
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SSP Manjunath added that WhatsApp call records showed the bank officials were in direct contact with the fraudsters, confirming their active role in the scam. Based on this evidence, the manager and cashier were arrested and presented in court. Authorities are now working to apprehend three other suspects who physically deposited the counterfeit checks.
The investigation also revealed that the fraudulent checks were high-quality reproductions made using a color printing machine. Despite the large amounts involved, bank staff failed to verify the authenticity of the checks using MICR (magnetic ink character recognition) scanners or UV light machines. Additionally, the usual SMS alerts sent to account holders for such transactions were deliberately blocked, suggesting insider involvement.
“The original checks that matched the numbers on the encashed checks were still in the checkbook at the special land acquisition office, proving that the fraudulent ones were fake and printed on colored paper,” said Manjunath.
Police have managed to freeze approximately Rs 7.5 crore under sections 61(2), 316(5), and 238 of the Banking Norms. Efforts are ongoing to recover the remaining amount. Investigators found that the fraudsters transferred the stolen money to business accounts rather than personal ones to avoid detection. These funds were then funneled through companies in Uttar Pradesh, Haryana, Chandigarh, Jaipur, and Mumbai using RTGS and other banking methods.
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Superintendent of Police (Crime) Chandrashekhar R Ghodke reported that two individuals from Uttar Pradesh and Haryana, who received large sums in their accounts, have reached out to the authorities. Police teams are actively working to recover the stolen funds.
Officials also revealed that this scam extends beyond Rudrapur. A similar fraud of Rs 4.5 crore was committed from the SLAO accounts in Shamli and Baghpat districts of Uttar Pradesh, also using fake checks. Investigators are questioning the arrested bank officials to gather more information. Authorities suspect that counterfeit checks may have been issued in the names of SLAOs from other areas as well.
“We are notifying NHAI project directors and SLAOs nationwide to prevent further incidents of this nature,” SSP Manjunath concluded.