BHUBANESWAR: A youth was arrested by Mumbai Police on Saturday on charges of embezzling the money of depositors in a bank, where he was employed as an agent.
The accused, Manoj Kumar Sahoo, a resident of Bramheswarpatna under Badagada police limits was employed with mutual fund division of a private bank in 2009. During his tenure in the bank, Manoj allegedly misappropriated the deposits of the customers worth `18 lakh, which he was supposed to deposit with the bank.
The misappropriation came to the fore during the audit of the company this year in March, following which the bank officials filed a complaint with the Marine Drive police station in Mumbai.
Investigations raised suspicion towards Manoj who had resigned from his job and returned home after committing the fraud.
The police team raided the house of Manoj and arrested him. The police then produced him at the SDJM court here and took him on a transit remand to Mumbai, said Inspector-in-Charge of Badagada police station, Debi Prasad Patra.