Kozhikode: District Crime Branch police arrested a senior Bank manager of Punjab National Bank PNB), for allegedly swindling multi crore rupees from various accounts of PNB Link road branch, including Rs 12.68 crores of eight accounts of Kozhikode Corporation.
According to police, they arrested M P Rijil (31) from his relative’s house Wednesday night at Erimala near Chathamangalam,who was the senior manager of the PNB Eranhipalam branch and registered cases under section 409 (breach of trust by banker) and 420 (cheating) of IPC and would be produced before the court in the evening.
Police registered a case on November 29 following the complaint of Kozhikode Civic body.After this, he was absconding and the District Sessions court rejected the anticipatory bail application of Rijil few days back.
The illegal Rs 21.29 crore financial transactions had been reported from 17 accounts including eight of Kozhikode Corporation ,which was maintained at Link road branch, where Rijil worked as a senior manager in the PNB during nine months. The remaining accounts are from individuals and private institutions .
The PNB authorities found the mistake from Rijil and the bank refunded all the missing 12.68 crores at two instalments ( Rs 2.53 crore and the balance 10.07) following the Bankers Director board meeting held at Newdelhi on the last day. The bank suspended Rijil, who earned more than one lakh as salary per month, in this connection.
Crime Branch sources said, Rijil had admitted that he had invested the swindled money in the speculative stock market and repaid EMI of his personal loans. The Mayor Beena Philip (civic body) said all the missing capital amount refunded by the bank, so far, and the interest amount will be paid later.
