Mumbai, March 17: The officers of the Economic Offences Wing (EOW), of the Mumbai Crime Branch arrested the general manager of a private bank on Monday for allegedly misappropriating the bank’s funds to the tune of Rs15.55 crore.
The arrested man has been identified as Hillary Grecian Anthony Barboza, a resident of Virgo Villa Apartment on SV Road in Bandra (W).
According to the police, Barboza was working as the general manager of a co-operative bank that has its branches at Dadar and Lower Parel. “Between 2002 and 2005, there have been several cases of dividend warrant misuse, current account misuse and current account cash-credit misuse found within the bank.
The Cooperative Commissioner was also conducting investigations into the case, as it was learnt that within just three years there had been fraud worth Rs15.55 crore committed at the bank,” said an officer from the EOW, requesting anonymity.
The officer added that the Reserve Bank of India had underwritten the bank, and a case of fraud was registered with the general cheating branch of the EOW.
“We had arrested Barboza on Monday and produced him before a local court for police remand. The court has remanded him in judicial custody till March 17, as he is suffering from hypertension. He was later admitted to JJ Hospital in Byculla,” the officer said.
–Agencies–