A fraudster transferred Rs 12.8 crore from the Noida authority’s bank account, which had been setup 15 days earlier with a Rs 200 crore deposit. The account was launched with a Rs 200 crore deposit, and the Noida authorities chose the Bank of India sector 62 branch to open fixed deposit (FD) accounts since it offered the best interest rate.
The bank confirmed the opening of the account via email and letter. On June 26, the Noida Municipal Corporation requested that the Bank of India construct FDs of Rs 100 crore apiece. However, on July 3, Manoj Kumar Singh, the chief finance and accounting officer, discovered that the FDs had not been opened.
Instead, just hours before Singh’s visit, Rs 3.8 crore was transferred from the primary account to another account, and Rs 9 crore was transferred to a different account. After Singh’s complaint, the bank froze the account and blocked the second transfer.
According to the investigation, Abdul Kadir, a Pondicherry resident, used a counterfeit Aadhar card and went to the branch pretending to be a Noida authority officer. He was carrying a letter with the fabricated signatures of Noida’s finance controller and Singh.
Kadir claimed to be acting on authority’s orders and coordinated the transfer of monies with the Bank of India. Without authority, the bank paid Rs 3.8 crore to three persons. The police are looking into bank personnel and other unnamed people who were involved in the incident. Kadir is seen on CCTV visiting the bank and the Noida authority office.
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