CHENNAI: A 63-year-old man from Thoothukudi, wanted in a Rs 4.36 crore bank fraud case registered by the Central Crime Branch (CCB), was arrested on Saturday. The CCB was probing a complaint from Ravi (64) of T Nagar on the diversion of funds from Fixed Deposits amounting to Rs 4.36 crore by forging the signatures of the account holders.
The complainant manages the funds of the NRI couple- Vijay and Mallika, who had FDs in IndusInd Bank's Anna Nagar branch.
Recently, Ravi learnt that the FD accounts were closed prematurely without the knowledge of Vijay and Mallika, after which he approached the city police with a complaint. CCB registered a case on May 21 and began a probe.
Investigations revealed that the bank's branch manager, Manjula, was behind the devious scheme. She had misused the blank cheques left at her disposal by the NRI couple on a goodwill basis, forged their signatures, and transferred the money to two of her friends and family members.
While Manjula is still absconding, police traced the money trail and arrested Manjula's accomplice, Nageshwaran (52) of Aynavaram on June 26. Police said that he had Rs 72 lakh of the fraud money in his account.
Meanwhile, on Friday, the police arrested Arumuga Kumar (63) of Thoothukudi. Manjula had transferred Rs 1.64 crore belonging to the NRI couple to Arumuga Kumar's bank account.