Bank manager arrested in Vellore for misappropriating Rs 97 lakh, forging documents

The CCIW said that field inspection by the cooperative bank officials revealed that she forged documents and signatures of beneficiaries.
Representational Image. (File Photo)
Representational Image. (File Photo)

VELLORE: The Commercial Crime Investigation Wing (CCIW) recently arrested a 37-year-old manager of the district Central Cooperative Bank, for allegedly misappropriating funds to the tune of Rs 97.37 lakh,

According to CCIW, D Umamaheshwari (37), a resident of Jeeva Nagar in Vellore's Thorappadi, was the manager of the bank's Gudiyatham branch. Between April 2018 and March 2019, Umamaheshwari was found to have misappropriated Rs 97.37 lakh after forging documents to take loans in the name of 33 self-help groups.

The CCIW said that field inspection by the cooperative bank officials revealed that she forged documents and signatures of beneficiaries.

Based on a complaint lodged by Deputy Registrar of Cooperative societies of Vellore G Arutperumjothi, an FIR was registered on May 21 under various IPC sections including 409 (criminal breach of trust by public servant, or by banker, merchant, or agent), 465 (punishment for forgery), 467 (forgery of a valuable security), 468 (commits forgery), 471 (fraudulently or dishonestly uses as genuine any document which he knows or has reason to believe to be a forged document), and 477A (falsification of accounts).

Following this, the CCIW team led by Inspector Vijayalakshmi arrested Umamaheshwari recently. Further investigation is on to find out if other employees have any part in this financial fraud.

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