Financial institution supervisor, husband detained for embezzlement of more than Rs 1 crore from clients

A financial institution supervisor and her husband have been detained for allegedly defrauding clients by taking Rs 1.23 crore from their Chennai permanent deposits in Tamil Nadu. Nirmala Rani (59) was stopped by Punjab and Sindh Financial Corporation after an audit group realized the fraud. From 2016 to 2019. Throughout this time, it has reportedly transferred over Rs 1 crore to the Karnataka Checking account by pouring small amounts of cash at a time, from thousands of shoppers.

A former ATM withdrawal, she transferred the money to a checking account of her 62-year-old husband, Elangovan. (CCB) the couple detained. ial Foundation. They will return the deposit when their pledge is complete. All this time, managers of financial institutions are eligible to release funds primarily on the basis of the pending deposit of their clients.

Rani used these deposits, and their place to exchange money illegally. It was also revealed that Rani was quickly stopped by the financial institution after the review group became aware of the scam.

(with input from the Anbarsan reporter)

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