Kozhikode PNB scam: Bail plea of accused Rigil rejected

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The accused was produced before the court the other day after spending five days in police custody.

PNB, accused Rigil | Photo: Screengrab, Mathrubhumi News

Kozhikode: The Chief Judicial Magistrate Court on Tuesday rejected the bail plea of former PNB senior manager MP Rigil, accused in the PNB fraud case and sent him to judicial custody.

The accused was produced before the court the after spending five days in police custody. Earlier, the court had remanded Rigil for 15 days on December 15. Following which, he was in crime branch custody for five days.

The accused has allegedly defrauded Rs 21.29 crore from 17 bank accounts, leading to the loss of Rs 12.68 crore. The investigation team found that Rigil invested over Rs 10 crore in share market and utilised the remaining amount for house construction and playing rummy.

The Crime Branch inspected the bank account details of Rigil and investigated if any similar frauds were carried out in the PNB branches in Eranhipalam and Palakkad, where he had worked. However, no other illegal transactions were found.

Meanwhile, no contradictions were found between Rigil's statement and the bank records. As per the probe report, Rigil had committed the fraud on his own, misusing his position as senior manager.

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