Rs.11 crore fraud in Bank of Baroda, Property of Manager seized

 In the investigation of a fraud case registered by the Chandigarh CBI against Manjeet Singh, Chief Manager of a Bank of Baroda branch located in Gohana, and others, a major revelation has been made. The investigation has revealed embezzlement of about Rs 9.18 crore.

The Chandigarh Zonal Enforcement Directorate has taken action based on the report and has attached agricultural land worth about Rs 5.92 lakh belonging to the accused bank manager and others. Additionally, efforts are being made to confiscate other properties of the accused and the amount deposited in bank accounts. The Enforcement Directorate has also presented its report in the CBI court.

The case was registered by the Chandigarh CBI in February 2021, based on a complaint by Satyaprakash, Regional Assistant Manager of the Karnal Division of Bank of Baroda. The complaint was filed against Manjeet Singh, Chief Manager of Bank of Baroda’s Gohana branch, and later the Rohtak branch, along with others. The case was registered under sections 409, 467, 471, 477A of the Indian Penal Code (IPC) and sections 120B and the Prevention of Corruption Act.

According to the complaint, the fraud involved the opening of five loan accounts in the bank. These loan accounts were linked to the accounts of 163 consumers who had made fixed deposits (FD) in the bank as a guarantee. The loan account’s withdrawal limit was later increased from Rs 21,000 to Rs 2 crore, and more than Rs 11 crore was transferred wrongly. The fraud continued even after Manjeet Singh was transferred from Gohana to Rohtak.

During the investigation, the Delhi CBI team seized documents from the Gohana branch of Bank of Baroda and recorded statements from consumers and staff members. Consumers stated that they had no knowledge of the loan accounts being opened.

The Enforcement Directorate’s investigation revealed that the accused chief manager, Manjeet Singh, carried out the fraud by deceiving the bank staff. He took a loan of Rs 11 crore against the fixed deposits of 163 people through five fake accounts in the names of his wife, relatives, and others. The manager also transferred Rs 39 lakh from a consumer’s Loan Over Draft Against Bank on Deposit (ODBOD) account to his ICICI account. The investigation further revealed that no loan documents were found in either the Gohana or Rohtak bank branches related to the mentioned ODBOD accounts opened by Manager Manjeet Singh.