Dimapur: A special investigation team of the Nagaland Police has arrested the branch manager of the Port Blair branch of Bank of Maharastra for alleged commission of forgery, fraud, and cheating to the tune of Rs 1,85,32,000 when he was earlier posted in the Dimapur branch of the bank as its branch manager.
Pallab Nag (40), son of Prabir Nag, under Silchar Sadar police station in Cachar district of Assam, was arrested in connection with East PS (Dimapur) case No. 16/2022 U/S 423/406/420/418 IPC, police said on Wednesday.
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The accused while he was the branch manager in Dimapur, along with other accused had sanctioned unsecured loans to the customers against schemes such as Standup India, PMEGP, MSME, MDURA, etc.
The sanctioned amount granted for the purchase of vehicles and machinery was then siphoned off and misappropriated by the accused persons resulting in a wrongful gain to themselves through misrepresentation and forgery, thereby defrauding the bank and causing a breach of trust and cheating the victims, police said.
The Nagaland police urged the public and bank customers to report similar instances, if any, through phone No. 6009308037 or E-mail [email protected]
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They said the identity of the informant or complainant will be kept secret if required.