The Economic Offences Wing (EOW) of the Detection of Crime Branch (DCB), Ahmedabad Police, arrested Vipulkumar Saileshkumar Patel, a senior executive manager at Amarnath Cooperative Bank Limited, for allegedly embezzling over ₹2.5 crore in public funds.
According to officials, Patel, who managed the Stadium Road branch of the bank, illegally diverted the funds through fraudulent RTGS transactions between February 20 and June 5 last year. The diverted money was transferred into his personal and other related bank accounts.
The arrest was made following a formal complaint by Chaitanya Ganpatlal Thula, another official of the same bank. A statement released by the EOW on Monday confirmed Patel’s involvement in the financial misconduct.
Authorities are currently investigating the extent of the fraud and whether any additional individuals were involved.
