Man held for cheque fraud, Rs 1.25 lakh in new notes recovered

Special Operations Group of the city police have arrested a slate factory owner in a case of alleged cheque fraud and recovered Rs 1.25 lakh in new Rs 2000 denomination from his possession here today.
The accused, identified as Gopal Gupta had deposited Rs 7 lakh demonetised currency in Rs 1000 and Rs 500 notes in accounts of his employees, in connivance with some bank employees, police said.
The matter came to light when mother of one such employee--Virendra Pandey approached police after he died on November 13, while undergoing medical treatment at a hospital here. Pandey was admitted to the hospital on November 12.

After government's November 8 demonetisation move, accused Gopal Gupta had opened fake account in the name of his employees, including Pandey (32) at Punjab National Bank and got the cheque book issued.
The accused later got the cheques signed by Pandey. Later, he withdrew the money with the help of these cheques on November 13.
We had received a complaint about the fraud following which we launched an investigation in the case. It was found that Gupta connived with bank employees and committed the fraud. We have arrested the accused, Additional Inspector General of Police Umesh Mishra told PTI.

The role of bank employees and others involvement in the fraud is under investigation, he added.

The arrested man is also a director of a prominent school in Gangapur City.
The accused will be presented before the court tomorrow, police said.