PNB former manager in Crime Branch custody

KOZHIKODE: MP Rijil, 32, the former manager at Punjab National has been send to Crime Branch custody in the case of illegal activities in Kozhikode Corporation offices. He gave the statement that he used the stolen money to play online gambling and also trade at the stock market.

The accused was produced at CJM court and send to five-days custody. The bail plea will be considered on the day when his custody gets over. The Crime BRANCH said that the exact amount misappropriated by Rijil will be known only after interrogation. Every transaction must be checked and how it was spend.

It must be made sure if the money is handed to someone, or kept stored somewhere. The police investigation and auditing at the bank are progressing. Rijil has not said that more people are involved in the scam during his interrogation. However, in his bail plea he had made this argument. It will be investigated if Rijil got help from someone else.

Rijil began his scam from the Rs.50 lakhs he took as housing loan and Rs.25 lakhs as personal loan. The money he took as housing loan was used to buy shares to reap double the profits. Majority of this money got lost. His house construction also stopped midway. But he continued his gambling. He also played online rummy during the time.

He began the scam by transferring money from 17 accounts and deposited in his father’s account through NEFT.

As the amount of the scam is larger, the investigation will be handed over to state crime branch.