Kotak Mahindra Bank fraud: ED charge sheets former Patna Branch Manager, 2 others

Patna, Sep 14 (SocialNews.XYZ) The Enforcement Directorate (ED) has filed a charge sheet against a Kotak Mahindra Bank branch manager in Patna and two others before a special PMLA court here in connection with a case of Rs 31.93 crore fraud in the bank.

The ED had initiated PMLA investigation based on an FIR registered by Gandhi Maidan P.S. Patna under various section of the IPC.

The police also filed a charge sheet alleging that fraudulent transactions totaling to Rs. 31.93 crore from the bank account of the Competent Authority for Land Acquisition (CALA) cum District Land Acquisition Officer (DLAO) were executed and funds were siphoned off using bank accounts of various shells/dummy entities, causing huge loss to government exchequer.

During the ED investigation, Sumit Kumar, the then Manager of Kotak Mahindra Bank, Boring Road Branch, Patna was arrested by it on July 10 and one of his close associates Shashikant Kumar was arrested on August 2.

The ED investigation further revealed that accused Mannu Singh was actively involved in siphoning off public money from the bank accounts of CALA cum DLAO, maintained with Kotak Mahindra Bank, Exhibition Road Branch, Patna and its further diversion to various shell/dummy entities.

The ED investigation revealed that funds of Rs 3.05 crore were debited from the account of CALA cum DLAO, Patna and PD NHAI PIU in 4 transactions and were credited in the bank accounts managed by Mannu Singh and later transferred to the accounts which were used by the accused after retaining his commission.

Source: IANS