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BoB official held for syphoning money from FD accounts

Press Trust of India  |  Mumbai 

A former of Baroda (BoB) has been arrested for allegedly embezzling money from deposit accounts of customers, the police said here Saturday.

Niket Kumar, the accused, was working as a "single-window" operator at the Colaba branch of BoB in south

He allegedly transferred a total of Rs 29.5 lakh from 18 Fixed Deposit (FD) and recurring accounts of customers to his friend's account between 2015-17, a said.

The embezzlement came to light when a customer recently approached the to claim his FD upon maturity and found that the amount was missing.

The suspended Kumar following an internal inquiry and also lodged a police complaint.

Kumar was arrested Friday, the said.

Upon questioning, he admitted to the scam, the official said.

Kumar was booked under IPC sections 409 (criminal breach of trust by a public servant) and 420 (cheating), and a local court remanded him in police custody till February 12.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, February 09 2019. 20:30 IST