Financial Fraud Uncovered: Bank Official Arrested in Panchkula Multi-Crore Scam
A Rs 150-crore discrepancy involving Panchkula Municipal Corporation's accounts has led to the arrest of a private bank official. The State Vigilance and Anti-Corruption Bureau detained Pushpender Singh, vice-president at Kotak Mahindra Bank, for allegedly diverting funds. Multiple individuals have been arrested as investigations continue into the scam.
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On Wednesday, the Haryana State Vigilance and Anti-Corruption Bureau arrested a key bank official over a massive Rs 150-crore discrepancy in Panchkula Municipal Corporation's accounts.
Pushpender Singh, a deputy vice-president at Kotak Mahindra Bank and former branch manager, allegedly manipulated fund transfers from genuine accounts to fraudulent ones. He surrendered to authorities before his arrest.
Five others have been apprehended for their roles in the scheme, with investigations revealing that the fraud involved fictitious accounts and falsified reports. An FIR has been filed, and the case is set to move to court as more details emerge.
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