Ghaziabad police have arrested a Punjab and Sind Bank employee for allegedly embezzling over Rs 64 lakh from customer accounts through fraudulent transactions. The accused, Somil Tiwari (29), worked as a customer service associate at the Patla branch of the bank.
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Tiwari was taken into custody on December 13 following a tip-off from an informer, police said. The case was initially registered on November 21 at the Nivadi police station after the Branch Manager filed a complaint regarding suspicious withdrawals from multiple accounts.
Fraudulent Transactions Linked to Stock Market Losses
During questioning, Tiwari told police that he had suffered heavy losses while trading in the stock market.
“In an attempt to recover those financial losses, he allegedly opened a fake bank account in the name of an acquaintance and transferred customers’ money into that account. He then withdrew the funds and reinvested them in stock market trading, where he again incurred losses,” an officer said.
Police confirmed that Tiwari used forged methods, including RTGS (Real-Time Gross Settlement) transfers and loose cheques, to siphon off a total of Rs 64,87,442.
Legal Proceedings and Investigation Ongoing
An FIR has been registered under relevant sections of the Bharatiya Nyaya Sanhita (Sections 316(5) and 61(2)), and a police team was formed to apprehend the accused.
“As of now, one case has been registered against the accused at Nivadi police station, and inquiry is being conducted to ascertain whether he has any previous criminal record,” an officer said.
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Authorities said further legal proceedings are underway to determine the full scope of the embezzlement and whether additional charges are warranted. |
