1 arrested in Rs 120 crore WBIDFC fraud scam

One person has been arrested in connection with the alleged Rs 120 crore fraud against state government-owned West Bengal Infrastructure Development Finance Corporation Ltd (WBIDFC), a senior police official said.
"We have arrested Indrajit Chatterjee in connection with this case," joint CP (crime) Pallab Kanti Ghosh told PTI here today.
The incident came to light in mid march when Chairman of WBIDFC Avirup Sarkar lodged a complaint against the bank manager, after a huge chunk of fixed deposits worth Rs 120 crore went missing from the account.
According to WBIDFC officials, the Corporation had transferred Rs 59 crore to the Circus Avenue branch of UCO Bank on August 30 last year and on January 10 this year the corporation again transferred Rs 61 crore to the same branch.

Against these tow deposits WBIDFC obtained two separate fixed deposit certificates from the bank, signed by the branch manager.
The bank manager had claimed that around Rs 83 crore was missing from the account and signatures on the fixed deposit certificates were not genuine.
The bank manager was arrested thereafter.