Bank fraud: Man held for availing Rs 2.87 cr using fake cheque in Odisha

Sambad English Bureau Published On : Jan 8, 2021 at 4:03 PM Updated On : Jan 8, 2021 at 6:49 PM

Rourkela: The Economic Offences Wing (EOW) of the Odisha Crime Branch today arrested a person for allegedly availing Rs 2.87 crore from a bank in Rourkela city by using a fake cheque.

Accused B. Murty Pillai of Rourkela has been booked under Sections 420, 467, 468, 471, and 120 (B) of the IPC.

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Anjani Kumar Singh Azad, Chief Manager of Bank of India, Rourkela Branch had lodged a complaint with the EOW alleging that Pillai, a customer of the bank, using a cloned cheque managed to avail Rs 2.87 crore from the bank and diverted the amount for his personal use.

During investigation, it was ascertained that Pillai, who has a Cash Credit account in the bank, deposited a cheque for Rs 2.87 crore on November 3, 2020 purportedly issued from the account of M/s Karnataka State Co-operative Marketing Federation Limited in his account. The cheque was cleared by the branch officials and the amount was deposited in the Cash Credit account of Pillai.

The accused on the very day transferred Rs 2.6 crore to the accounts of his own company namely BMP & Sons Construction Pvt. Ltd. maintained with ICICI Bank and Bank of India, Civil Township Branch, Rourkela.

Subsequently, during the period between 03.11.2020 and 06.11.2020, the rest amount (around Rs 23 lakh) was transferred in fractions by Pillai to the accounts of his close relatives and his own loan account, including cash withdrawal of Rs 5 lakh.

Later on November 20, 2020, Bank of India, Bangalore LCB Branch intimated that the original cheque was in the possession of its owner M/s Karnataka State Co-operative Marketing Federation.