A CBSE school based out of Khargar, Navi Mumbai has become the latest victim of transaction fraud
A CBSE school based out of Khargar, Navi Mumbai has become the latest victim of transaction fraud. The Bal Bharti Public School lost over Rs 24 lakhs after unidentified men forged the school's cheques and later encashed them illegally.
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The issue was brought to the attention of Kharghar police after the bank hosting the school's account notified bank authorities of the unapproved transactions. According to a report in the Indian Express, the cheque-related fraud was committed in two separate transactions.
While an initial sum of Rs 8.56 lakh was illegally withdrawn from the school's account on October 30, the second instance of fraud was committed on October 31, for a sum of Rs 16.20 lakh. Interestingly, the cheques were actually issued by the school to two different individuals for far lesser amounts.
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The first cheque was issued by the Bal Bharti Public School to Kanchan Desai for Rs 3,000 and the second to Satish travels for Rs 11,500. Both the original cheques were somehow modified by the fraudsters to reflect vastly inflated amounts.
According to the report however, the cheques had not been issued to the actual recipients as they were awaiting the signatures of both the school’s principal, Ganesh Parameswaran, as well as, the trustee. A person of the name Deepak Das has been found to have connection to the case and is currently under investigation.
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