The former branch manager of Bank of India’s Guwa branch (West Singhbhum), Sudeep Sinku has been accused of embezzling over Rs. 2.14 crores from a corporate account belonging to Steel Authority of India Limited (SAIL). Following a complaint by the current branch manager, Nilesh Kumar, an FIR has been lodged at Guwa police station, and Sinku has been suspended from the bank.
Also Read: Villagers Staged Protest in Guwa for Reopening of Tata Steel’s Vijay-II Mine
Special Audit Reveals Fraudulent Transactions
The case came in light after a special audit conducted by Viswajit Kumar, senior manager of BOI’s Kadma branch in Jamshedpur, flagged serious financial irregularities. The audit found that on 1st July 2021, Sinku had allegedly issued a pay order from SAIL’s account without authorization and diverted Rs. 2.14 crores into his control.
Investigators revealed that the money was subsequently transferred into the accounts of four individuals Annu Devi, Manoj Nishad, Punami Bodra, and Kanhaiya Kumar Saw without SAIL’s consent. The funds were later withdrawn from these accounts, indicating a coordinated fraudulent scheme.
Also Read: Protest Against Fraudulent in Amrapali Coal Project in Jharkhand
Guwa police station in-charge Nitish Kumar confirmed that an FIR has been registered and investigations are ongoing against all accused. The case has raised concerns over internal controls and compliance at the branch level. Officials have assured that recovery efforts and disciplinary action will proceed in parallel with the police probe.
Also Read: High Court Directed CBI to Act in Rs. 242 Crores Bank Fraud Case Related to Kohinoor Power
Join the WhatsApp Group of Business Jharkhand to Stay tuned for all the latest updates of industrial-political developments in Jharkhand.
