A relationship manager at a private bank in Shimla was detained after he embezzled ₹3.8 crore from 68 accounts to feed his addiction to online gaming. The cops revealed the big news on Saturday, July 6.
After an inquiry showed that Arvind Kumar, 32, of Parwanoo, had transferred money intended for investments in mutual funds to an online gaming app, he was taken into custody late on Thursday.
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As per the police report, Arvind had persuaded account users to invest a sum of money between ₹1 lakh and ₹40 lakh by pretending to issue bonds and offering returns that would triple their initial investment. Rather, he used the money to fund his online gaming.
When account holders protested to senior bank officials after not receiving the promised returns, the fraud was discovered. Although the issue dates back to 2022, a thorough investigation revealed the entire magnitude of the crime.
In addition to the bank executives, the statements of around 70 impacted account holders are being recorded by the police.
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