Tamil Nadu: Private bank employee arrested for swindling Rs 4 crore from 10 senior citizens

CHENNAI: A former employee of a private bank swindled Rs 4 crore from 10 senior citizens promising to invest their funds in fixed deposits and gave them fake documents. He was arrested on Thursday.
Police said D Harikumar of Thiruporur was tasked with helping customers start their demat accounts. However, after leaving his job, he approached at least 10 senior citizens and took money from them promising to invest their funds in trusted financing firms.
Inquires revealed that Harikumar floated bank accounts under the names Shriram Associates, J K Associates, and DHL and deposited the paycheques collected from the victims and later encashed them. In turn, he handed over fake fixed deposit receipts to the depositors with forged seals and letterheads.
Based on a complainant, the entrustment document fraud (EDF) wing of the central crime branch (CCB) registered a case and arrested Harikumar. He was sent to jail after being producing before a magistrate court in the city on Thursday.TNN