Standard Chartered accounts manager held for Rs 45 lakh fraud

According to a senior police officer,the investigation revealed that Sen used to forge documents after urging the customers to invest in the simple-term deposit policy.

“As the accounts manager of the branch,Sen had the additional charge of business promotion. Some years ago,the bank had started some lucrative schemes to increase the deposits.

Sen targeted a group of clients close to him and lured them for another special term deposit scheme,telling them that it would fetch more interest than other schemes,” said the officer.

With good communication skill,he succeeded in roping in around 15 clients who agreed to invest in the policy. Sen reportedly assured them he would arrange the deposit account and took cheques from them.

Later,he also handed over a term-deposit certificate to each client. Years later,when the deposits matured,the clients approached the bank for the amount. But the bank found that all the deposit certificates were forged. The bank then initiated an internal inquiry which revealed that Sen was involved in the fraud.

On Monday night,Sen was arrested by the police from his Behala residence. The police suspect that some other persons are involved in the racket. “We are looking for the others involved in the fraud,” said a senior police officer.