Read more
Article
Daily News & Analysis
Friday, February 01, 2008
ATM fraud case accused reveal 3 others involved
The two accused confessed to handing over amount to three people who are said to be stock brokers
Maulik Buch. Vadodara
The two accused, arrested in the Rs70 lakh ATM fraud case, on Thursday confessed that they had handed over the amount to three different persons for investment in the stock market. The three persons, who were identified as Arvind Shah, Pinal Shah and Mehul, are suspected to be stock brokers who might have been given the responsibility to purchase stocks on their behalf.The first-ever fraud related to ATMs in the country has been detected at Vadodara on Wednesday. Two custodians of the CMS security services were arrested for siphoning off Rs69 93900 meant to deposit in various ATM centres. The fraud came to light on Wednesday on the basis of the complaint lodged by the driver and the gunmen accompanying them in the van.According to the Panigat police sources, the two accused, Nehul Shah and Kalpesh Soni, started the routine cash-loading procedure with a balance of Rs1,95,00,000. After the completion of the procedure, the two custodians handed over a packet to an unknown person on way to their office. They repeated the same thing in other ATM centres also, the sources said.When the driver and the gunmen lodged a complaint with bank officials, the sources said, a thorough auditing was performed by some senior officials of the CMS security service, where the two were found guilty. The accused embezzled Rs69,93,900 from the five ATM centres of Axis Bank and ICICI Bank at Waghodia Road, Rs30,00,000 from the four ATM centres of same banks at Karelibaug area.When contacted, a Panigate police official said that the police were investigating the case in every possible angle. "We have already started an intensive search for the three persons to whom the accused persons handed over the amount. The police will also go through the bank accounts of the two accused," he said. Meanwhile, the two were presented before the court which sent them to a four-day remand. However, the police had urged the court for at least 14-day remand for them.
Daily News & Analysis
Friday, February 01, 2008
ATM fraud case accused reveal 3 others involved
The two accused confessed to handing over amount to three people who are said to be stock brokers
Maulik Buch. Vadodara
The two accused, arrested in the Rs70 lakh ATM fraud case, on Thursday confessed that they had handed over the amount to three different persons for investment in the stock market. The three persons, who were identified as Arvind Shah, Pinal Shah and Mehul, are suspected to be stock brokers who might have been given the responsibility to purchase stocks on their behalf.The first-ever fraud related to ATMs in the country has been detected at Vadodara on Wednesday. Two custodians of the CMS security services were arrested for siphoning off Rs69 93900 meant to deposit in various ATM centres. The fraud came to light on Wednesday on the basis of the complaint lodged by the driver and the gunmen accompanying them in the van.According to the Panigat police sources, the two accused, Nehul Shah and Kalpesh Soni, started the routine cash-loading procedure with a balance of Rs1,95,00,000. After the completion of the procedure, the two custodians handed over a packet to an unknown person on way to their office. They repeated the same thing in other ATM centres also, the sources said.When the driver and the gunmen lodged a complaint with bank officials, the sources said, a thorough auditing was performed by some senior officials of the CMS security service, where the two were found guilty. The accused embezzled Rs69,93,900 from the five ATM centres of Axis Bank and ICICI Bank at Waghodia Road, Rs30,00,000 from the four ATM centres of same banks at Karelibaug area.When contacted, a Panigate police official said that the police were investigating the case in every possible angle. "We have already started an intensive search for the three persons to whom the accused persons handed over the amount. The police will also go through the bank accounts of the two accused," he said. Meanwhile, the two were presented before the court which sent them to a four-day remand. However, the police had urged the court for at least 14-day remand for them.
0 Reviews