KOCHI: CBI on Thursday arrested nine persons on the charge of swinding `3.06 crore from the Indian Overseas Bank’s (IOB) Pandalam branch. The arrests were made based on a case lodged in 2017.
Though the probe agency confirmed the arrests, it refused to disclose details regarding their identity.
“The arrested persons are being interrogated. They will be produced before the Thiruvananthapuram CBI Court tomorrow. We will file a petition seeking custody of the accused soon,” a CBI officer said.
The case was registered against IOB chief manager Shaji Thomas hailing from Jagathy in Thiruvananthapuram and Pandalam Thonnallur natives Sabukhan and wife Shaila; Shajahan and wife Hafisa and Adoor native Sunish Philip following a complaint lodged by the IOB chief regional manager, Thiruvananthapuram.
CBI officers said Shaji allegedly colluded with the other accused and defrauded the bank from August 8, 2011 - August 17, 2013. During a routine branch inspection in April-May 2014, it emerged 10 accounts were irregular and six were under quick mortality. The follow-up probe by the bank revealed procedural lapses on the part of the sanctioning authority, siphoning of funds by submitting bogus invoices and mis-utilisation of bank funds without proper enquiry.