The respective state police had started the inquiry in the siphoning money off the accounts of the customers of Canara Bank in the district of Pathanamthitta.
Vijesh Varghese a bank official has been identified as the accused by another official. He had joined Canara Bank at the time after the merger of Canara Bank with Syndicate Bank.
The police have claimed that Vijesh was absconding and have issued a lookout notice for the accused.
The police had also stated they had found the smoking-gun evidence in the case. The accused had used the bank manager’s passwords and others passwords as well to transfer the money from the different accounts of the customers to his wife and a close relative over a few years.
His major focus was on the accounts of the survivors of motor accident victims. The Motor Accident Claims Tribunal usually order the insurance companies to pay the required compensation to the survivors. The money which was deposited in the bank accounts can only be withdrawn when the survivor becomes 18 years of age.
Therefore, it is seen that these deposits have languished for many many years. The police further stated that Vijesh had mostly moved cash around from such dormant accounts. The fraudulent act of his only came to the notice of the public and the officials when Vijesh had tried to manipulate the fixed deposit of a colleague.
With further investigation, it was found that the employees in the bank knew Vijesh as an extremely sincere and hardworking employee, who always worked overtime and skipped breaks in order to keep working. Now, people suspect that he had used those extra hours at the bank to do private raids of the accounts of the bank customers. The accused also took advantage of the situation when there was a shortage in staffing and used it to his convenience. We also get to know that he had paid a large sum of cash for his wife’s employment as a teacher in a government-aided private school.
The bank has suspended his supervisors till the enquiry is completely done and they reach a verdict.