Bank Manager Engaged in Scrap Import Fraud Exposed

A bank manager and two others are accused of fraudulent attempts to release over Rs 55 lakh based on forged documents linked to a fake scrap import deal from a bogus firm in Abu Dhabi. The incident led to police booking multiple individuals and is under investigation.

A serious case of fraudulent financial dealings has emerged involving a bank manager and two accomplices, who allegedly attempted to release over Rs 55 lakh using forged documents. This fake transaction was purportedly tied to a non-existent scrap import operation from a fictitious company in Abu Dhabi, police reported on Monday.

Sikandar, a scrap trader, planned to import aluminium scrap from a company that turned out to be fake. The falsehood unravelled when Javed, claiming to be an agent, insisted on a substantial payment, prompting Sikandar to make discreet inquiries that led to the exposure of the scam upon his visit to Dubai.

Despite warnings and internal suspicion, ICICI Bank's Main Road branch moved to process the fraudulent payment. An FIR is filed against those involved, including Javed, Parekhar, a mysterious company owner, and the bank manager, as the investigation unfolds.

(With inputs from agencies.)