Ayodhya, Uttar Pradesh: In a major financial fraud case, the Branch Manager of Punjab National Bank (PNB), Mahesh Tripathi, along with an associate, has been arrested for allegedly embezzling over Rs12 crore through fraudulent loan accounts.
The scam came to light after the Chief General Manager of PNB’s Ayodhya Circle Office lodged a formal complaint highlighting suspicious transactions. Investigations revealed that Tripathi, along with eight colleagues, was involved in a meticulously planned operation involving the creation of fake loan accounts and forged documentation.
The probe uncovered:
46 fake loan accounts totaling Rs8.09 crore
40 fraudulent Mudra loan accounts amounting to Rs3.93 crore
These accounts were allegedly fabricated with false credentials and documents to siphon off funds from the bank over an extended period.
Authorities are also scrutinizing the role of PSP Construction Company, headed by Samarjeet Singh, which is believed to be linked to the scam. Both Tripathi and Singh are currently in custody, awaiting court proceedings.
The scale of the embezzlement has raised concerns about internal oversight mechanisms within public sector banks, especially related to Mudra loan schemes and credit disbursement practices.
