Three arrested by Kolkata Police for siphoning off Rs 35 crore

Three persons were arrested by the Kolkata Police after they entered into a criminal conspiracy among themselves and committed a fraud of Rs.35 crore from different bank accounts of the Institution of Engineers (India) on Monday. On different dates money was siphoned off through RTGS and to different bank accounts and withdrawal causing wrongful loss on the part of the complainant organization and subsequent gain on the part of the accused persons which is punishable under sections 120B,420, 467, 468, 471 and 409 of IPC.

The accused persons 48-year-old Aroun Pandey, 48 years old Krishnendu Mullick and 50-year-old Samrat Paul issued letters by Allahabad Bank, Bowbazar Branch and used the same as genuine before The Institution of Engineers (India) and allured them to invest for fixed deposits at the highest rate of interest which was later misappropriated.

Thereafter, the then branch manager made RTGSs at the invested amount after insertion into two account numbers with Allahabad bank.

The Allahabad bank employee, in conspiracy with others, issued forged Fixed deposits purportedly issued by the bank’s Bowbazar Branch after which a total amount of approximately Rs. 35 crores were debited from different bank accounts of the Institution of Engineers (India).

During the investigation, the watch was maintained and accused Aroun Pandey who was the main conspirator who connived with the Allahabad bank employee, was arrested from Mandarmani on Saturday. Subsequently, the other two accused were arrested from Muchipara and Habra respectively who were directly involved with the case.

While Pandey was the mastermind behind the commission of the offence, Mullick was the intermediary who misguided the victim company and Paul was the then Branch Manager of Allahabad Bank from where the money was siphoned and played a pivotal role in the commission of the offence.

During investigation and statements taken by Pandey and Mullick, cash amounting approximately Rs.1.94 crore, gold weighing 200 gm and one BMW car were seized.

The accused were produced before the court and have been remanded to Police Custody till November 20th.

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