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Two Arrested From Thrissur Arrested For Spending Rs 2.44 Cr Credited By Mistake
Cash transactions spike at petrol pumps, online orders
Highlights
- Two youths were arrested by the police for splurging on cash that had been incorrectly debited to one of their accounts.
- The accused began spending the money before bank officials discovered that the account had been credited with a sizable sum of money.
Two youths were arrested by the police for splurging on cash that had been incorrectly debited to one of their accounts. Nidhin and Manu, who are from Arimpur, moved and spent over Rs 2.44 crore from their account. Their arrest has been noted by the crime branch.
The accused began spending the money before bank officials discovered that the account had been credited with a sizable sum of money. They purchased new phones, paid off debt, purchased shares, and then transferred the remaining funds to 54 accounts at 19 banks. There were 171 transactions completed in total.
Later, the Bank became aware of the discrepancies. They then reported the incident to the police. The bank where the accused had an account is in the process of merging. Bank representatives claimed that throughout this process, the money was accidentally credited.
Furthermore, the accused provided all of the money, with the exception of a few lakhs. According to the police, they should have reported the error to the bank rather than consuming the funds.
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