KOZHIKODE: The crime branch team probing the multi-crore fraud at the Punjab National Bank’s Kozhikode link road branch has found that the prime suspect, former manager M P Rijin who allegedly defrauded over Rs 21 crore from various accounts with the bank, invested a portion of the booty in share market and used the rest on online games. The probe team has begun proceedings to recover the amount.
Police sources said the team has verified all bank accounts of Rijin to check transactions. The preliminary probe found that the accused invested around Rs 11 crore in the share market and he lost nearly Rs 1 crore playing online games.
Meanwhile, uncertainty remains over the retrieval of funds lost by the Kozhikode corporation due to the fraud. Demanding immediate return of the amount, the LDF held protests in front of some of PNB’s city branches on Tuesday.