Canara Bank fraud: Absconding cashier accused of swindling Rs 8 crore held in Bengaluru

Bengaluru: A bank employee wanted in a case of alleged swindling of over Rs 8.13 crore was arrested from Bengaluru, police said.

The accused, Vijeesh Varghese of Avaneeswaram in Kollam, had allegedly manipulated the accounts of several depositors and stole Rs 8,13,64,539.

Police said Varghese, a cashier with Canara Bank’s Pathanamthitta branch, swindled money from 191 accounts over a period of 14 months.

The accused mainly targeted fixed deposits or accounts from which money had not been withdrawn even after the expiry of the deposit term.

The alleged fraud came to light when an account holder approached the bank with a complaint on February 11, saying his account with a deposit of Rs 10 lakh had been closed without his knowledge. An audit which was done following the incident uncovered a fraud of Rs 8.13 crore.

Five employees, including the branch manager were suspended following the incident.