Bhopal (Madhya Pradesh): An embezzlement case has surfaced at the Bhopal Co-operative Bank, with police registering an FIR against three individuals for allegedly syphoning off 41.94 lakh collected from farmers as loan repayments, Etkhedi police said on Friday.
According to the complaint filed by bank official Ramcharan Silawat, the bank provides agricultural loans through primary credit societies for inputs such as seeds and fertilisers. Manoj Kumar and Naresh were appointed as recovery agents to collect outstanding dues.
Police said that in clear violation of bank protocols, which prohibit cash collection on public holidays, the suspects reportedly visited multiple villages and collected nearly ?42 lakh from farmers.
During an audit conducted the following day, the collected amount was found missing from the bank’s treasury. When questioned, the duo claimed the money had been stored at a village co-operative society office and was stolen overnight. However, internal verification and preliminary investigation exposed inconsistencies in their account, police said.
Police said Manoj and Naresh along with a security guard identified as Mukesh allegedly conspired to stage theft to cover up the embezzlement.
Police station incharge Ashish Sapre confirmed that a case has been registered on the charges of embezzlement and criminal breach of trust. “Initial findings indicate a pre-planned conspiracy. Teams have been deployed to arrest the suspects and recover the misappropriated funds,” he said.
