TRUE STORY
Bank fraud: Gang of four arrested
Express News Service
First Published: 24 Nov 2009 07:42:08 AM IST
THIRUVANANTHAPURAM: A four-member gang which looted Rs 60 lakh from a bank account has been arrested by the city police.
The gang members were identified as Ganesh Kumar of Kamaleswaram, Sreejesh of Sreevaraham, Deepak of Muttathara and Ajayan of Thonnackal. All are well-educated youths hailing from financially sound families, police sources said.
The gang had looted Rs 60 lakh deposited by NRI businessman Vincent Justin of Kumarapuram, at the ICICI Prudential Life Insurance Company’s East Fort branch. Ganesh, who was working as customer service associate in the ICICI Bank in Kollam, had collected the account details of Vincent. He subsequently entered into a conspiracy with the other accused.
The funds in the ICICI Prudential Life Insurance Company’s East Fort branch was transferred to Kollam by opening an account in the name of Vincent Justine. The fund was subsequently transferred to an account opened in the name of Ajayan at the Medical College branch of ICICI Bank.
As the bank officials became suspicious, they informed the police and subsequently the gang was busted. The gang had withdrawn only Rs 50,000 from the account.
Police sources said that the accused were planning to loot more funds in similar manner. They were produced before the court and remanded.
A team led by Fort Assistant Commissioner Krishnakumar and circle inspector Najmul Hassan is investigating the case. The involvement of more persons in the crime is being probed, said sources.