CBI books 4 managers of Allahabad Bank for fraud

Mubarak Ansari
Wednesday, 28 March 2018

Pune: Four managers of government-owned Allahabad Bank were booked by the Central Bureau of Investigation (CBI), Anti-Corruption Branch (ACB), Pune unit, for allegedly transferring Rs 1.5 crore from the fixed deposit of National Insurance Academy (NIA), Balewadi, to their and others' account to cheat the institution. 

The incident took place in 2012-13. The FIR was filed on Tuesday against then senior manager Arun Gopal Deshpande and managers Pallavi Mukherji, Nisha Prakash, and Gayatri Pradhan, all posted with Hinjewadi branch. 

Pune: Four managers of government-owned Allahabad Bank were booked by the Central Bureau of Investigation (CBI), Anti-Corruption Branch (ACB), Pune unit, for allegedly transferring Rs 1.5 crore from the fixed deposit of National Insurance Academy (NIA), Balewadi, to their and others' account to cheat the institution. 

The incident took place in 2012-13. The FIR was filed on Tuesday against then senior manager Arun Gopal Deshpande and managers Pallavi Mukherji, Nisha Prakash, and Gayatri Pradhan, all posted with Hinjewadi branch. 

According to CBI, the accused fraudulently, prematurely closed the fixed deposit (FD) account of NIA for Rs 1.5 crore, without any mandate from NIA and diverting the same to various accounts including accounts of Deshpande himself. Thereby they caused wrongful loss of Rs 1.6 crore (including interest). 

The FD account was opened by Deshpande on May 18, 2012, for a period of two years. However, he closed the account on April 9, 2013, without obtaining consent and original FDR from the NIA and credited the FDR amount of Rs 1.48 crore (discounted value) to the current account of M/s CBS, Hinjewadi branch. Deshpande transferred amount from the said current account to other accounts including his own accounts existing in the branch. The other managers Mukherji, Prakash and Pradhan, either entered or passed the fraudulent transactions in the system using their user ID and passwords. 

The CBI found that to camouflage his illegal acts, Deshpande, after his transfer from Hinjewadi branch to Laxmi Road branch, continued to make payments of quarterly interest to the NIA by unauthorisedly debiting individual customers accounts. He transferred Rs 3.56 lakh from the saving bank account of one Prashant Basant Khadke on August 19, 2013, maintained at Laxmi Road branch of Allahabad Bank and Rs 3.56 lakh from savings account of Ramesh Sridhar Kolhe on November 19, 2013, maintained at Hinjewadi Branch of Allahabad Bank. 

As due date of maturity neared, the accused made payments to the NIA. “On the due date of maturity of FDR, payment of Rs 1.5 crore plus last quarter interest of Rs 3.47 lakh was made to the NIA on May 19, 2014, by the bank authorities by debiting suspense account (fraud & forgery) no. 81420025504 of the Hinjewadi branch. Thereby, due to the aforesaid fraudulent transactions committed by the accused bank officers, total wrongful loss of Rs 1.6 crore (including interest on FD) was caused to Allahabad Bank, with corresponding wrongful gain to Deshpande and other persons,” the FIR states. 

The accused are yet to be arrested. Inspector Manish Prabhune is investigating the case. 

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