Massive Bank Fraud ; Employee Disappears Swindling Rs 7 Cr From Fixed Deposits

 Massive fraud was unearthed in Canara Bank from its branch in  Pathanamthitta . Money to the tune of Rs 7 crore was found swindled from various fixed deposits maintained by customers at the bank. The culprit, bank’s own employee has vanished meantime.  Police have begun investigations into the case.

Money was swiped misusing password assigned to the bank’s officers. The culprit joined the bank just two years ago in 2019. The embezzlement came to light when a sum of Rs 10 lakh was found withdrawn from a fixed deposit account of another bank employee’s wife without her knowledge. When asked for explanation on the mismatch, the culprit said it was a mistake. Further examination showed shortfall of Rs 7 crores in fixed deposits with the bank.

All monies were found drawn fraudulently from various FDs and transferred to the culprit’s wife’s account and that of his other relatives. Meanwhile the culprit, Vijeesh, along with family,  has gone into hiding. The bank, originally a Syndicate Bank branch, became Canara post its merger.

Police will, after initial procedures,  hand the case over to CBI.