Bank fraud: Corporation demands interest as PNB returns another Rs 10.07 cr

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Kozhikode corporation | Photo: Mathrubhumi

Kozhikode: Punjab National Bank, which has been in bad light over the alleged multi-crore fraud with the accounts of Kozhikode Corporation, on Wednesday returned another Rs 10.07 crore after an internal enquiry.

However, the Corporation has demanded interest on the money.

PNB earlier had settled Rs 2.53 crore of the Rs 12.86 crore swindled by its employee from Corporation’s accounts. Rs 10.07 crore payment came after this.

As of now, the bank has identified that the accused committed fraud amounting to Rs 21.29 crore. Of that Rs 12.6 crore is of the Corporation while the remaining belongs to six private accounts.

PNB has been continuing with the audit, said reports. Similarly, the Crime Branch probing the case is collecting more information from the accused who was nabbed on Wednesday.

According to the statement given by the accused, he did the act on his own and used the swindled money to invest in stock market and repay EMI of his personal loan.

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