UP man diverted Rs 1.5 crore govt scheme fund, arrested after 14 years

A middleman accused of being involved in the embezzlement of around Rs 1.5 crore from various government schemes 14 years ago has been arrested by the Economic Offences Wing (EOW) in Uttar Pradesh.

The accused, Yogendra Prasad, was arrested from Jaunpur’s Line Bazar police station area. The EOW had been investigating the case involving the diversion of government scheme funds into fake bank accounts during 2012-13.advertisement❮❯ Read Full StoryRS 1.5 CRORE DIVERTED INTO FAKE ACCOUNTSAccording to the investigation, funds released under several government schemes were transferred to fake bank accounts and subsequently misappropriated. The schemes included the Credit Card Scheme, Road Transport Loan Scheme, Rural Housing Loan Scheme and Solar Energy Equipment Scheme.

The investigation found that around Rs 1.5 crore in government funds was diverted in the case. Jogendra Prasad was allegedly acting as a middleman and was involved in the transactions along with the then bank manager and cashier.

The EOW began investigating the financial irregularities after the suspected diversion of funds came to light. Investigators examined the movement of money and the role of individuals associated with the bank and the government schemes.EOW PROBE IDENTIFIES THREE ACCUSED

Following its investigation, the EOW identified Jogendra Prasad, the then bank manager and the cashier as being involved in the alleged embezzlement of the funds. The agency has initiated action against all three accused in connection with the case.

The investigation focused on how money meant for beneficiaries under different government schemes was transferred to accounts that were not linked to the intended recipients.

The EOW arrested Jogendra Prasad from the Line Bazar police station area in Jaunpur. Further investigation is underway to establish the complete flow of the funds and determine the role of the other accused.

The case dates back to 2012-13, when the government schemes were being implemented and funds were released for beneficiaries. The long-running investigation has now resulted in the arrest of one of the individuals identified by the EOW as being involved in the case.

The agency is continuing its probe into the financial transactions and is also pursuing action against the former bank manager and cashier in connection with the Rs 1.5 crore government funds case.- Ends