Bank manager accused of ₹3 crore fraud in Mangaluru

A bank manager in Mangaluru has been accused of defrauding both the bank and its clients of nearly ₹3 crore. A formal complaint has been lodged at the CEN police station regarding the matter.

According to the complaint, Derek Ajit D’Souza, the former manager of Bank of Baroda’s Konaje branch, allegedly sanctioned loans worth ₹1.44 crore against fixed deposits belonging to senior citizens without their authorization. These funds were then funneled into the accounts of his associates between September 22, 2022, and February 7, 2024.

The accused also manipulated deposit instructions, misleading customers who requested fixed deposits by handing them counterfeit handwritten receipts instead of official computer-generated ones. Instead of securing their money, he illicitly transferred ₹67.94 lakh from their savings accounts to accomplices without establishing the promised fixed deposits.

An internal audit exposed the misconduct, prompting an official investigation. The fraudulent transactions amounted to ₹2.91 crore, benefiting several individuals, including Norbert D’Souza, Anil Prakash D’Souza, Vasant K, Taniyappa, Paul D’Souza, Yashodhar, Mahesh Kulashekhar, Ramakrishna Alva, and others.

Following scrutiny, some account holders repaid ₹2.21 crore, while the remaining ₹69.83 lakh remains unrecovered. The accused allegedly diverted this sum for personal gains, leaving the bank and its customers at a loss.

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