Chief Manager of Union Bank of India arrested for defrauding the bank of Rs 3 crore

Jan 03, 2019, 20:10 IST | Suraj Ojha

The accused Nabarun Mujumdar, 49, posted in the credit card department had defrauded the bank by defaulting the repayments of the credit card by manipulating bank records and cheated bank to the tune of Rs 3 crore.

Chief Manager of Union Bank of India arrested for defrauding the bank of Rs 3 crore
Nabarun Mujumdar

The Sewree police have arrested a chief manager of Union Bank of India from the credit card department for allegedly defrauding the bank. It was revealed in the investigation that he committed the fraud because he wanted to fulfil his needs as loves travelling around India and overseas, shopping for expensive clothes and liquors.

The accused Nabarun Mujumdar, 49, who was posted in the credit card department had defrauded the bank by defaulting the repayments of the card by manipulating bank records and cheated bank to the tune of Rs 3 crore. He was arrested in the last week of December and was produced before the Metropolitan court where he was remanded to police custody till January 3.

Mujumdar’s wife does not believe that her husband cheated the bank for over Rs 3 crore as he never took her out for picnics as he suffered a cash crunch apart from a Rs 15 lakh home loan.

When the police explained the fraud to her and the amount involved, she was shocked.

During the course of the investigation, the police found out that the accused used to get auto-generated files which had a list of people who paid their credit card bills and he used to edit these files. An officer said that "Mujumdar had been working with the bank since 2012 and during his work tenure; the accused had managed to procure four credit cards. He used to spend exorbitant money on shopping and travelling in India and overseas on his credit cards but never repaid the money to the bank. He used to add his name and credit card number in that list and then forward it to a third party vendor, Worldline India Private Limited, who provides end-to-end services for electronic transactions in India. It focuses on electronic payment services for banks."

The fraud came to light in the month of November after Mujumdar was transferred to another branch in Mumbai. Parsuram Singh, the AGM of Digital banking department found out about the fraud and alerted the higher officials from the bank about the matter after which they approached the police.

Following the complaint, the police registered an FIR against Mujumdar under sections 409,420,467,468,471 Of Indian Penal Code and 66 (D) of Information Technology Act and started the investigation. During the investigation, the police learnt that the fraud they investigated initially was only the tip of the iceberg. "Initially, the bank had reported fraud of Rs 34 lakh only but as they investigated further, it was found that Mujumdar had duped the bank for more than Rs 3 crores," the officer added.

 As Mujumdar caught wind that the cops were on the hunt for him, he fled to his hometown in Kolkata. The police team headed by PSI Kiran Mhandare and Nagesh Chikne chased him down but Mujumdar managed to give them a slip and escaped to Siliguri. After avoiding the arrest for few more days, the accused returned to Mumbai and later was arrested by the police in Goregaon.

During the investigation, the police found out that the accused visited places in New Zealand for over 10 times and also flew to Kolkata at least 4 to 5 times a month. Police also recovered a car.  

 While talking to Mid-Day Dr Rashmi Karandikar, DCP Port Zone said that" We have arrested the accused and are investigating where he has invested the money." 

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