In a significant development in the ongoing investigation into the illegal withdrawal of Rs 56.50 crore from the Jharkhand State Electricity Employees’ Master Trust (JSEEMT) fund, Lolus Lakra, the manager of the Central Bank of India’s Birsa Chowk branch, has been arrested by the Special Investigation Team (SIT). The arrest came after it was revealed that Lakra had facilitated the illegal transfer of the funds to fake accounts.
According to the Criminal Investigation Department (CID), a mobile phone and Rs 37.18 lakh in cash were recovered from Lakra’s possession during his arrest. The case was first reported on October 4, when the manager of the JSEEMT filed a complaint with the CID about suspicious withdrawals from the fund.
SIT investigators are now delving deeper into the fraud, with evidence pointing to five other illegal withdrawals totaling over Rs 100 crore from multiple government agencies, including the Jharkhand Tourism Development Corporation Limited and the Jharkhand Urja Utpadan Nigam Limited. The investigation is expanding, with SIT focusing on suspicious bank accounts and fraudulent transactions.
So far, the SIT has managed to freeze Rs 47.20 crore spread across 350 bank accounts, arrested six individuals, and recovered Rs 1.23 crore in cash and ornaments valued at Rs 16.70 lakh.
The CID has urged affected account holders to present their concerns or submit relevant documents to the SIT as part of the investigation. Authorities are also working closely with multiple banks to track down more fraudulent transactions.