Cheque fraud in Palamu has stunned every one. Sources said the reconciliatory note of the two banks never showed any irregularity making it difficult for everyone to discover this clinically precise fraudulence with the cheques.
Sources said on an average account reconciliation is done every six months and here too it was done but no detection of fraud was ever noticed. Sources said the perfect reconciliation even dodged the audit team in all these years. Sources said only those cops who have handled or solved financial fraud can proceed in this fraud too as the matter revolves around the huge interests accrued in the deposits of the government which ( interests) played as cover of the illicit withdrawal of government money.
Sources said the wind out of the sail of Nazareth Deputy Collectors has gone out leaving them in great lurch.
Role of as many as seven Nazareth deputy collectors (NDC) is getting more and more murkier in the wake of the detection of 8.69 crore of government money embezzled in a span of just 8 years beginning 2008 to 2016 July.
Sources said it is the prime duty of the NDC to ensure that real value cheques are entered in the cash book while in the case cheques were manipulated and inflated manifold times.
Sources said the seven NDCs will now find it hard to explain their position as the manipulation and inflation of value of cheque was most blatant and apparent despite this the 7 NDCs just ignored this or connived with this.
A police officer refusing to be identified said ‘ This is unimaginable that a mere zila nazir can do such a colossal manipulation and inflation with cheques without getting detected or spotted by none of the 7 NDCs in this span of 8 years from 2008 to 2016’. The police officer said a case of conspiracy is due but a thorough investigation will further unfold the nexus between the zila nazir and these 7 NDCs.
The case is of zila nazir Shailesh Kumar who is in judicial remand here and is an accused of bungling 8.69 crores of government money by way of manipulating and inflating the real value of the cheques and he did tamper with as many as 469 cheques drawn on two banks SBI and Central Bank Of India.
Present NDC Satish Kumar told The Pioneer ‘The detection of fraud done with the 469 cheques has reached 8.69 crores of government money now which is of the period 2008 to 2016 July’.
Sources said it was a planned fraud which started in 2008 when only 4 cheques were tampered with putting the state excehequer to the loss of 9 lakhs of rupees. 39 cheques were tampered with in 2009. 54 cheques were tampered with in 2010. Satish Kumar confirmed this.
However sources said from 2008 to 2010 the tampering was done where inflation was kept far below one crore of rupees!
However tampering with cheques spiraled up from 2011 to 2016. 85 cheques were inflated with 1.70 crore in 2011, 74 cheques worth 1.10 crore in 2012, 68 cheques worth 1.13 crore in 2013, 62 cheques worth 1 crore in 2014 48 cheques worth 1.12 crore in 2015 and 33 cheques worth1.26 crore till July 2016.