Rs 44L Fraud: CBI Names Ex-Banker Nagpur: The Central Bureau of Investigation (CBI) has registered a case against A Kumar, the former general manager of a nationalised bank’s Itwari branch, for allegedly misusing his official position to perpetrate a fraud worth approximately 44 lakh rupees. According to the complaint filed by the bank, Kumar extended undue benefits to 10 firms during his tenure without any formal applications or approvals from senior officials. The probe later revealed that Kumar diverted the misappropriated funds to his personal account and invested the money in the share market. The case was reported by Soumitra Bose, and the CBI’s investigation has uncovered the extent of Kumar’s alleged misconduct. The bank’s internal inquiry confirmed that Kumar’s actions violated standard procedures, as the transactions were conducted without proper authorization. The probe also highlighted the lack of oversight during his tenure, which allowed the fraud to go undetected for an extended period. Kumar’s role as a senior official in the bank’s Itwari branch positioned him to manipulate financial processes, enabling him to siphon funds into his personal accounts. The investigation found that the 44 lakh rupees were distributed to 10 firms, which likely included shell companies or entities linked to Kumar. The exact nature of the benefits provided to these firms remains under scrutiny, but the CBI has stated that the transactions were conducted without any legitimate business rationale. The bank’s internal audit, which was initiated after the fraud was discovered, traced the flow of funds and confirmed Kumar’s direct involvement. The probe also revealed that Kumar’s actions were not limited to the initial fraudulent transactions; he continued to divert funds to his personal accounts over an extended period.#cbi #a_kumar #nationalised_bank #itwari_branch #soumitra_bose
