Police has arrested Ishwinder Singh, Asst Manager, JK Bank Pouni, resident of 60-A Sainik Colony, for making fraudulent debits from various inactive/deceased accounts amounting to the tune of Rs 126.34 lacs. Police said the accused officer involved was discretely activating the dormant accounts and then illegally withdrawing deposited money. This practice was allegedly going on for the last three years and an amount of Rs 126.34 lakhs was illegally withdrawn by accused. A dormant account is an account that has had no financial activity for a long period of time, except for the posting of interest. After the dormancy period, dormant accounts become the unclaimed property of the state. The fraud came into notice of the bank after the accused withdrew amount from an already active account following which the account holder lodged a complaint.
