UP man cheats Morbi bank of Rs 8 lakh, arrested

Rajkot: A 25-year-old man from Uttar Pradesh was arrested in Morbi for conning State Bank of India (SBI) to the tune of Rs 7.6 lakh.
The accused Puran Singh Nishad used to withdraw money using ATMs of State Bank of India, but he would deliberately make the transaction failed by inserting a finger in the ATM when the cash comes out. Police said that although the transaction would show error, Nishad used to collect the dispensed cash and then lodge complaint to the bank’s helpline number about transaction failure.The bank used to then credit back the ‘failed transaction’ amount in the account of the accused.
Last year, when the transactions of the ATM were being audited, bank discovered a difference of Rs 7.6 lakh. “The difference was because of failure of transactions which lead to bank officials to lodge a police complaint,” said inspector V G Sarvaiya, investigating officer of Morbi police. As the failed transaction complaints were repeatedly registered by a single person, cops zeroed down on Nishad and nabbed him. He was found in possession of 17 ATM cards.
During preliminary interrogation, Nishad told cops that he is just one of the 15-member gang from Uttar Pradesh that cheats banks. He also admitted of having withdrawn Rs 80,000 from one ATM in Rajkot. “There are other gang members too who often travel to Morbi and withdraw money using the same tricks and return back to Uttar Pradesh. The other members collectively have withdrawn Rs 30 lakh sofar,” Sarvaiya said. He added that all gang members had received training back in their home state and are active in other states.