Palamu, Oct. 17 -- In a financial fraud case, police in Hussainabad, Palamu, have arrested Manoj Kumar Singh, the former branch manager of JRG Bank, Dangwar branch, for allegedly embezzling over Rs 6.03 crore during his tenure.
According to police reports, the accused fraudulently sanctioned loans from 11 group accounts and withdrew money from STDR (Special Term Deposit Receipt) accounts, misappropriating a total of Rs 6.03 crore.
During the course of investigation, Singh reportedly returned Rs 4.66 crore to the bank.
The arrest was made yesterday from Sasaram following a detailed investigation led by SDPO S. Md. Yakub, who acted on documentary and digital evidence collected during the inquiry.
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