TN police arrest three for running a duplicate SBI bank

South India

The plan to run a duplicate bank was hatched by the son of former bank employees.The fraud bank has been busted by police.

Fraud firms intended to dupe people are plenty in India, but duplicate firm similar to that of an original company is rare.

The Tamil Nadu police came across one in Cuddalore district. It’s a duplicate branch of the state-run State Bank of India. The mastermind behind is a 19-year-old youth, whose parents originally worked in SBI. He set up the branch at Panurti, where there are already two branches of SBI to serve the people.

The police have busted the fraud by arresting the youth identified as Kamal Babu and his two associates, A Kumar (42) and M Manickam (52) and slapped cases on them under sections 473, 469, 484, 109 of the Indian Penal Code.

According to a report in New Indian Express, Kamal Babu (19) had brought computers, lockers, challans and forged documents, among other items, to set up the branch through his contacts. A website was even created in the name of the Panruti Bazaar branch.

However, the branch came under the radar when an SBI customer enquired about the newly-opened branch in North Bazaar with the manager of an existing branch in the town. The manager and other officials visited the fake branch and were shocked to find the set up similar to that of an original bank branch with all the necessary items.

They immediately lodged a complaint with the Panruti police following which the trio were arrested. “Babu’s parents are former SBI bank employees. From an early age, he had been visiting the bank and had learnt how a branch functions. His father died a few years ago and his mother had retired. After his father’s death, he had applied for a job in the bank. He got frustrated after his application was delayed and hence decided to open a bank by himself,” the NIE quoted an official as saying.

The official said there have been no complaints any customer cheated by the fake branch. However, there has been a lot of transactions between his mother’s account and his aunt’s account. A probe is underway to find out if anybody has lost money.

Image Credit: New Indian Express


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