Madhya Pradesh: PSU Bank Manager, Peon Embezzle ₹10 Crores FD; Police Looking For Two Accused

Bhopal (Madhya Pradesh): In a major financial anomaly, a manager and peon of a public sector bank allegedly embezzled Rs 10 crore fixed deposit from the Madhya Pradesh State Seed Certification Agency.

Following the revelation of the fraud, the Kotwali police in Bhopal registered a case of fraud against the accused late on Saturday night and initiated a search for them.

According to Kotwali police station TI, Kashiram Kushwaha, Sukhddev Prasad Ahirwar, an employee of the State Seed Certification Agency, approached the police, stating that the agency had two fixed deposits (FDs) of Rs 5 crore each with the bank.

The agency had FDs with several banks, and it was discovered that one of the FDs with the bank had been prematurely withdrawn. Further investigation revealed that the bank's peon, Brajendra Das Namdev, had transferred the FD amount to his own account.

At the time of the fraud, the bank’s manager was Noell Singh, under whose tenure the FD was both issued and subsequently withdrawn. Upon discovery of the fraud, the agency filed a complaint, which led to the police filing charges against both suspects.

No arrest so far

The TI noted that since the manager has been transferred to another branch, he has yet to be apprehended. Additionally, the peon is also missing. A special team has been assigned to locate the suspects, and the police are actively investigating the case.