Bank officer held for siphoning off Rs 1.5 crore

Abhayanand Paswan, probationary officer from the Dwarakanagar branch of the bank, was arrested and cash worth Rs 1.48 crore was recovered from him, Commissioner of Police J Purnachandra Rao said during a press conference here today.

Assistant general manager of the branch G Venkata Subba Rao had lodged a complaint against Paswan on June 29 alleging illegal diversion of Rs 1.5 crore into the accused's personal account.

City police had appointed a special team to track Paswan.

According to Rao, the accused had gone on sick leave from June 27 and began working in a private bank in Jharkhand. The fraud was detected after an internal audit conducted by the bank.

Bank officials traced the transactions of the accused to Odisha, as he had started withdrawing money from various ATM centers there, he said.

Following this a special police team was dispatched to the state where he was arrested and the cash recovered, he added.