A manager of Vijaya Bank, Tseminyu was arrested in connection of the fraudulent sanctioning and withdrawal of loan of Rs. 88,94,000 against term deposit in the name of an individual account, SDPO (South) & PRO, Kohima Police, Atu Zumvü said Monday.
According to PRO, police registered a case at Tseminyu, following a complaint lodged on April 21, 2016, regarding fraudulent withdrawal by branch manager. During preliminary enquiry, the manager, Yichanpemo Yanthan, son of Nyinpen Yanthan, a resident of Oriental Colony, Dimapur was arrested, PRO said.
Police ascertained that a fixed deposit of Rs. 1,01,71,504 at Vijaya Bank, Kohima was transferred to Vijaya Bank, Tseminyu without the consent of the owner by the manager.
Against this fixed deposit, the branch manager also forged the signature of the individual and applied for loan against term deposit in the name of the individual and sanctioned loan against term deposit amounting to Rs. 87,50,000.
The branch manager also opened a saving account at Tseminyu branch, that too without the knowledge of the victim, by forging his signature for transferring and withdrawing the loan amount, PRO said.
Later, after the victim got know about the transfers, he asked the bank for the withdrawal of his fixed deposit. The amount was then transferred to Kohima and withdrawn.
“With no security for the loan taken, the branch manager was told to clear the loan (totaling Rs. 88,94,000 with interest) and after some delay it was seemingly cleared,” PRO said.
However, on checking, PRO said that the “loan was cleared on paper but the cash was missing from the chest”.
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