Bank Employee Allegedly Embezzles Rs 65 Lakh in Shocking Fraud Case

Somil Tiwari, a bank employee, has been arrested for allegedly embezzling Rs 65 lakh from customer accounts. The fraud was unearthed when a customer's cheque bounced, prompting an investigation. Tiwari confessed to using customer funds for share trading and creating fake accounts for fund siphoning.

A bank employee, Somil Tiwari, has been arrested for allegedly misappropriating approximately Rs 65 lakh from customer accounts, officials reported on Saturday. The arrest followed a complaint lodged by Himanshu Gupta, branch manager of Punjab and Singh Bank, on November 21.

Assistant Commissioner of Police (ACP) Amit Saxena detailed that Tiwari used customers' investment funds in risky share trading ventures, resulting in substantial losses. To cover these losses, he withdrew funds from accounts that showed minimal activity, created fake accounts, and transferred money through RTGS and cheques.

The fraudulent activities came to light after a customer's cheque bounced, prompting senior bank officials to investigate. Tiwari was taken into custody, and further investigations are currently ongoing, police confirmed.

(With inputs from agencies.)