Private bank opens inquiry as Gujrat manager flees abroad
A private-bank manager in Gujrat is reported to have fled to the United States after account-holders lost up to Rs800 million they had given him to invest.
A private bank’s branch manager in Gujrat is reported to have left the country after account-holders lost up to Rs800 million.
Local sources say he went to the United States in the past week with his wife and children, and that the loss might cross Rs1 billion.
He is said to have held signed cheque books and used deposits for investments outside the bank after customers trusted him.
The bank has opened an inquiry. A senior FIA official said no complainant had come forward, and that banks often complain against their own staff.
Guards at his River Garden Housing Society home stopped customers who tried to take his car and house. Other depositors in Gujrat are withdrawing money.