Saturday, November 15, 2008

CHIAHPUAM BANK | Mizo staff held for fraud

Aizawl, Nov. 14 (PTI): At least two Mizoram government officials were suspended for investing government money in a “faceless bank” called “Chiahpuam Bank”, a fraud costing crores of rupees to depositors, sources said here today. The two officials were cashiers in the health and cooperation departments who allegedly invested nearly Rs 1.57 crore government money in the bank, which had offered a high of interest up to 60 per cent per month.

A cashier of the health department allegedly “invested” Rs 1.3 crore in the faceless bank. The cashier was arrested and suspended after an FIR was filed by director of health services, the sources said.

Another cashier in the cooperation department was also suspended after it was alleged that she “invested” Rs 27 lakh government money in the Chiahpuam Bank, the sources said. She was arrested from Assam’s Karimganj district on November 9.

The police also seized more than Rs 4 crore which revolved around the faceless bank and arrested around 30 people. Over 20 vehicles were seized as the affected people have lodged more than 700 FIRs seeking justice from the operators of the bank.

Source: http://www.telegraphindia.com/1081115/jsp/northeast/story_10112517.jsp

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