How did suspended Bank of India officer carry out ₹16-crore bank fraud?
A suspended Bank of India officer, Hitesh Singla, is accused of siphoning ₹16.10 crore from vulnerable customer accounts. As per ED, Singla manipulated internal banking systems to settle fixed deposits, PPFs, senior citizen schemes and dormant accounts. Funds were rerouted to his individual accounts. Investigators claim transfers were divided into smaller instalments, obscuring scale of fraud.