Dharmapuri sources have stated that four persons, including a banking correspondent of Yes Bank, were arrested for running a bogus bank, fraudulently tweaking the name of Yes Bank here and the ‘bank’ bogusly was named ‘Yes ABS Bank’ was operating opposite the Government Arts College here for the past one month.
It is added that based on the alert, manager of Yes Bank, Salem, Sasikumar had visited the 'bank' and the bogus bank was found using deposit slips, pass books with the logo of Yes Bank, following this, Mr. Sasikumar lodged a complaint with the Superintendent of Police Bandi Gangadhar.
Presently inquiry has revealed that Mr. Somasundaram was trained as banking correspondent for Yes Bank and was currently under the service of the bank and with access to the bank documents, Mr. Somasundaran had started the bank and over a month of its operation, the group had collected deposits to the tune of Rs.1.60 Lakhs.
Sources have also added that Yes ABS Bank’s documents that had forged YES Bank’s logo were printed in a printing press owned by a Murugesan in Elakyampatty and following this, district crime branch arrested Somasundaram, Balaji, Sundaresan and Murugesan, while Jayaprabhu is absconding.
