A suspected financial fraud exceeding Rs 200 crore has come to light at the Punjab National Bank branch in Aichhar village, Pi-1, Greater Noida, where funds from more than 350 customer accounts were allegedly siphoned off without authorisation. While initial complaints pointed to irregularities amounting to around Rs 35 crore, expanding inquiries revealed a substantially wider scale of misappropriation. Police investigations indicate that the primary targets were local farmers and landholders who had deposited substantial compensation received for land acquired for the Noida International Airport. Unauthorised withdrawals were executed from both savings accounts and fixed deposit holdings, and victims have further reported the disappearance of gold and silver jewellery stored inside their bank lockers.
Compensation Funds and Locker Valuables Targeted Without Consent
According to police findings, money was withdrawn from customers’ savings accounts and fixed deposits without their knowledge, consent, or mandate. In several instances, fixed deposits were prematurely liquidated, leaving account holders with significantly depleted savings. The alleged fraud also extended beyond digital and cash ledger entries to the bank’s secure vault facilities. Multiple affected patrons discovered that gold and silver ornaments placed in their lockers had vanished, with at least one complainant reporting that his fixed deposit was broken and his stored jewellery was stolen simultaneously. The suspected diversion of land compensation funds has sparked widespread distress among local agricultural families whose life earnings were tied to the branch.
Unauthorised Siphoning Traced Across Multiple States
Investigative sources stated that the misappropriated capital was transferred across accounts situated in six different states, specifically Maharashtra, Goa, Jharkhand, Andhra Pradesh, Telangana, and Gujarat. Preliminary tracking revealed that funds moved through disparate accounts in these jurisdictions before prompt subsequent transfers occurred, raising concerns that the money was swiftly dispersed into secondary and tertiary networks to complicate recovery procedures. As news of the financial discrepancies spread on Thursday morning, hundreds of account holders gathered at the branch premises around 10 AM to update passbooks, check remaining balances, and verify the status of their deposits. The inability of bank staff to provide definitive answers triggered sharp exchanges, prompting affected customers and farmer organisations to launch a sit-in demonstration outside the building. Additional police personnel and security guards were subsequently deployed to secure the premises.
Five Bank Officials Abscond as Police Probe Deepens
Five bank officials named in connection with the irregularities have absconded and are reportedly moving to secure anticipatory bail to prevent impending arrest. The Beta-2 police station has taken charge of the investigation, though law enforcement authorities have yet to apprehend the accused personnel. Greater Noida Assistant Commissioner of Police Sanchit Sharma confirmed that an active investigation is under way into the full dimensions of the misappropriation, the procedural lapses that enabled the unauthorised withdrawals, and the whereabouts of the absconding personnel.
