Ghaziabad, Dec. 13 -- Police in the Ghaziabad district of Uttar Pradesh have arrested an employee of Punjab and Sind Bank on charges of embezzlement, involving the misappropriation of approximately Rs.65 lakh from several customer accounts.

The accused, identified as 29-year-old Somil Tiwari, allegedly utilized the stolen funds for trading in the stock market, police said on Saturday.

The investigation was initiated following a formal complaint filed on November 21 by Himanshu Gupta, the Branch Manager of Punjab and Sind Bank. The large-scale fraud was initially uncovered after a customer reported a bounced cheque, which triggered a closer review by senior bank officials.

Assistant Commissioner of Police (ACP) of Modinagar Amit Saxena ...