Maha bank branch manager held in Lucknow for gold loan fraud worth ₹2.5 cr
As per UP STF, the branch manager fled with gold deposited in the branch by people who took loans and invested the entire amount procured through it in a Lucknow-based real estate company to gain profits.
LUCKNOW The UP Special Task Force on Saturday arrested the branch manager of a Maharashtra bank from Lucknow in connection with gold loan worth ₹2.5 crore in 2023, said senior police officials. They said the branch manager fled with gold deposited in the branch by people who took loans and invested the entire amount procured through it in a Lucknow-based real estate company to gain profits.
In a press note shared with media, the STF officials said the accused was identified as Girish Chandra Tiwari of Machchlishahar, Jaunpur and his family stayed in Yaduvanshi Bhawan in Gomti Nagar, Lucknow. They said he was last posted as the branch manager of Federal Bank on Meera Road in Thane, Maharashtra after working in different financial institutions since 2009.
A STF official said Tiwari was posted as the manager of Meera Road branch of Federal Bank since 2021 during which period he allowed gold loan to several people. “Tiwari, however, kept the deposited loan with himself rather than deposit it with the bank and disappeared with the entire gold in 2023 following which an FIR was lodged against him at Kashmira police station of Thane in Maharashtra and he was wanted since then.”
He said the STF was tracking his location after Maharashtra police informed about him. He said Tiwari was tracked down at his hideout in Khewali Hasanpur village under Sushant Golf City and was arrested on Saturday. He said the accused revealed during interrogation that he had invested all the money procured after selling the gold into Tronica Properties Solutions. He said the accused had been handed over to the Maharashtra police for further legal proceedings.
