LUCKNOW, Jan. 15 -- Police have begun tracing the money trail in the alleged Rs.58-crore fixed deposit (FD) fraud days after discrepancies surfaced during routine verification of the Uttar Pradesh Forest Corporation (UPFC) bank investments. Investigators are examining transaction details and banking documents to identify those responsible, police said on Thursday.

Anindya Vikram Singh, ACP, Ghazipur (Indiranagar), said bank records and fund movements were being scrutinised to fix accountability. "Further action will be taken based on documentary evidence," he said.

An FIR has been registered against unidentified employees of the Sadar branch of a nationalised bank in Lucknow for allegedly diverting Rs.58 crore of UPFC funds by issuing a...