Itanagar: Itanagar police tracked down and arrested Vivoto V. Zimo in Dimapur, Nagaland, on July 15. Zimo, a former branch manager at the Central Bank of India’s Ganga branch, allegedly masterminded a massive financial fraud targeting government subsidy beneficiaries. The scheme came to light after a victim filed a complaint on July 9, claiming the banker stole Rs 2.5 lakh of his personal funds and Rs 2 lakh in Atmanirbhar Pashupalan Yojana (ANPPY) subsidies.
Police discovered 18 victims so far. Total losses currently sit at over Rs 4 crore. This includes Rs 3.23 crore stolen under the ANPPY and Deen Dayal Upadhyaya Swavalamban Yojana (DDUSY), plus two other fraud cases involving Rs 1 crore and Rs 35 lakh. Zimo allegedly forced victims to pay excessive margin money, then opened fixed deposits in their names to secure loans. He swindled the cash by getting victims to sign blank withdrawal slips, which he used to drain their accounts.
The stolen money moved through various mule accounts. Zimo funneled the cash into cryptocurrency and stocks, where it vanished in bad trades. He also reportedly issued Rs 50 lakh in private, interest-bearing loans. Police are now hunting for accomplices and tracking the remaining money. Superintendent of Police Jummar Basar said, "Never sign blank withdrawal slips or financial instruments." Authorities are urging any other victims to step forward with their paperwork as the investigation continues.
Comments