Police are investigating an alleged ₹35 crore embezzlement at Punjab National Bank’s (PNB) Aichhar branch in Greater Noida after customers complained that money had disappeared from their accounts. Investigators have traced suspected transfers to six bank accounts in Goa, Mumbai and Jharkhand, while allegations of missing jewellery from bank lockers have added to customers’ concerns.
How Was the Alleged Fraud Discovered?
The investigation began after several customers complained about missing funds from their fixed deposits and savings accounts. Police suspect that bank employees and the branch manager may have facilitated unauthorised transactions.
The police cybercrime team and PNB’s vigilance department are examining whether the diverted money was subsequently transferred through other accounts.
What Have Customers Alleged
Around 30 account holders from Aichhar, Birondi, Bironda, Kyampur and neighbouring villages have approached Beta 2 police station. Police registered an FIR nder Section 316(5) of the Bharatiya Nyaya Sanhita following a complaint by Shrichand, who alleged that ₹1.16 crore had been transferred from his fixed deposit.
Several customers also alleged that gold, silver and other valuables were missing from their lockers, sometimes replaced with imitation ornaments.
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Were Account Details Changed?
Some customers accused bank officials of changing registered mobile numbers and email addresses to prevent transaction alerts from reaching them.
Ajipal, a resident of Birondi, alleged that his ₹35.34 lakh fixed deposit and jewellery weighing approximately 210 grams of gold and one kilogram of silver were missing. He claimed the contact details registered against his account did not match his actual information.
Why Are Landowners Protesting?
Several complainants had deposited compensation received after their land was acquired by the Noida Authority.
Santosh, a Birondi resident, alleged that ₹1.2 crore had disappeared from an account containing ₹1.3 crore in land acquisition compensation. Affected customers protested outside the branch, demanding information about their savings and missing valuables.
What Action Has PNB Taken?
PNB has suspended the branch manager and four other employees. Senior bank officials from Mumbai and Noida have been monitoring the matter.
Bank zonal manager Rajesh Bhowmik said three account holders’ claims amounting to ₹43 lakh had been settled. The bank has assured customers that genuine claims will be examined and honoured. Audits have also been ordered at other branches in Gautam Budh Nagar where land acquisition compensation was deposited.
The420 Insight: What Happens Next?
The investigation will need to establish how customer funds were diverted, whether bank employees were involved and what happened to valuables allegedly missing from lockers.
For affected customers, the immediate concern remains recovering their savings and compensation money while police and bank authorities verify individual claims.
