Gujarat: Bank manager arrested for Rs 2.5 crore fraud | Ahmedabad News


The Economic Offences Wing (EOW) of the Detection of Crime Branch (DCB) of Ahmedabad police on January 16 arrested a senior official of Amarnath Cooperative Bank Limited, Vipulkumar Saileshkumar Patel, for diverting public money worth over `2.5 crore to his own accounts through alleged bank fraud.

The arrest was based on a complaint by another bank official, Chaitanya Ganpatlal Thula, against Patel, the senior executive manager of the Stadium Road Branch (Ahmedabad) of the bank, a statement from the EOW stated Monday. It was alleged that Patel diverted over Rs 2.5 crore through RTGS transactions into his personal and other bank accounts, between February 20 and June 5 last year.

To cover his tracks, Patel allegedly made his employees make false entries and diverted the money by misusing the OTP sent by Axis Bank for the RTGS transactions.

Patel, 35, was booked under relevant IPC sections for cheating and fraud, after which the investigation was handed over to the EOW. A day after his arrest, a local court on January 17 granted a five-day remand of Patel to the EOW.

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