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BoB official held for siphoning money in Mumbai

MUMBAI: A former Bank of Baroda (BoB) professional has been arrested for allegedly embezzling cash from deposit accounts of shoppers, the police stated right here on Saturday.
Niket Kumar, the accused, was operating as a "single-window" operator at the Colaba branch of BoB in south Mumbai.

He allegedly transferred a complete of Rs 29.five lakh from 18 fixed deposit (FD) and recurring accounts of shoppers to his good friend's account between 2015-17, a police professional stated.

The embezzlement got here to mild when a buyer lately approached the financial institution to claim his FD upon adulthood and found that the volume was missing.

The financial institution suspended Kumar following an inside inquiry and in addition lodged a police grievance.

Kumar was arrested Friday, the police professional stated.

Upon questioning, he admitted to the scam, the professional stated.

Kumar was booked beneath IPC sections 409 (legal breach of agree with via a public servant) and 420 (cheating), and a local court docket remanded him in police custody until February 12.

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