5 held for Pan-India cheque racket including bank manager

5 held for Pan-India cheque racket including bank manager

cheque fraud

The South District police on Tuesday claimed to have busted a pan-India cheque fraud racket, allegedly headed by a man from the United States and run by, among others, a senior manager of Punjab National Bank (PNB).

Five persons have been arrested in connection with the case so far. According to the police, crores of rupees were fraudulently transferred from several accounts across the country using cloned cheques.

The fraud was discovered when a south Delhi businessman’s cheque of Rs 95 lakh was found to be misappropriated. The businessman lodged a complaint at the Hauz Khas police station and said the money was paid to a company in Kurukshetra.
A team led by ACP Rajender Pathania and SHO Sunjay Sharma was formed to investigate. They found that the money had gone into the account of one Amarjeet Singh, a Malviya Nagar resident. He was questioned, during which he said he knew one Rajeev Gupta, the alleged kingpin of the racket.

“The complainant still had the original cheque, a copy of which was used to transfer the money to M/s Lucky Timber & Iron Store. The complainant also informed that the original cheque bearing serial number 909671 had never been issued,” said Mr. Biswal.

After taking up investigations, the police first traced Amarjeet, who allegedly carried the cloned cheque to a PNB branch.

The accused reprinted the cheques with the help of customised ink cartridges and graphic designing software, with amount and account details of those who agreed to work on commission.“He revealed that the cheque was given to him by one Rajiv Gupta and his associates. He agreed to transfer the money in his account after they promised him a commission of ₹30 lakh from ₹95 lakh. Amarjeet, however, didn’t know anything about Rajiv, except his car’s registration number,” added Mr. Biswal.

thoughts/comments