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27 Oct 2021, Edition - 2297, Wednesday

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Four held for running fake Yes Bank

Covai Post Network


Dharmapuri: Four persons were arrested in Dharmapuri district of Tamil Nadu today for running a fake bank, called ‘Yes ABS Bank.’ One of the accused, Somasundaram, was an employee of Yes Bank.

According to the cops, the four accused rented a new building in front of the Government College in Dharmapuri town, and put up a sign board with a logo that looked very much like Yes Bank. They also printed fake withdrawal slips, deposit forms, and other such papers with the Yes Bank logo.

Within a month, about 80 people opened their accounts with the fake branch, and deposited cash to the tune of more than Rs.1.5 lakhs.

When the officials of the original Yes Bank in Salem came to know through their customers about this ‘branch’ in Dharmapuri, they lodged a complaint with the police, who immediately registered an FIR and arrested the culprits.

Interrogation revealed that the culprits were planning to open more fake bank branches in other areas too.

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