1.68 Cr fraud case: EOW initiates initial enquiry against 4 bank employees

Bhopal: A preliminary inquiry has been initiated by the Economic Offenses Wing (EOW) Bhopal against four employees, including two former Associate Managers of a nationalized bank at Tansen Nagar Industrial Estate branch in Gwalior. The complaint, filed by the bank's Regional Manager, alleges fraud of Rs 1,68,36,000 between 2020 and 2024 in the name of investment in various policies.The complaint led to the registration of an FIR, and the Regional Manager accused four employees, including two former Senior Associate Managers, of being involved in the fraudulent activities. Following the investigation, a preliminary inquiry was registered by EOW Bhopal on Wednesday. The complaint was filed by Arvind Mishra, the Regional Manager of the nationalized bank's Regional Business No. 01, who suspected the involvement of the then Senior Associate Managers Vijendra Singh Bais and Sharad Tandon from the Tansen Nagar Industrial Estate branch.The complaint also implicated retired employees Sonam Shejwar and Tejan Agarwal in the alleged corruption. According to the complaint, unauthorized transactions amounting to Rs 1,68,36,000 were made from 2020 to 2024, transferred to other bank accounts under the guise of investments.The fraudulent activities came to light during a document review, revealing suspicious roles played by the officials of the Tansen Nagar branch over the past four years. When contacted, the accused employees reportedly failed to provide satisfactory answers, leading the Regional Manager to file a complaint with the EOW for further investigation.Vijendra Singh Bais and Sharad Tandon, during the period in question, along with two retired employees, are being investigated for their potential roles in the embezzlement.The Gwalior EOW team has now been tasked with investigating the irregularities, including reviewing the relevant documents and monitoring the surveillance of bank activities during the period of the fraud.
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