Kolkata, Nov 9 (PTI) A city-based nationalised bank manager and two others have been arrested for their alleged involvement in duping a private educational institute of crores of rupees after luring its authorities to invest in a fraudulent fixed deposit scheme, police said on Monday.

The accused trio, as part of the "criminal conspiracy", forged documents of the nationalised bank's Bowbazar branch and issued letters to the institute, urging it to invest in a scheme which promised return at a high rate of interest, a senior officer of Kolkata Police said.

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"Forged papers were purportedly issued by the nationalised bank's Bowbazar branch... Approximately Rs 35 crore was debited from different accounts of the institute on different dates through real-time gross settlement (RTGS). The funds were then siphoned off to other bank accounts," he said.

The prime accused was on Saturday night arrested from Mandarmani while two others were picked up from Muchipara and Habra, the senior officer said.

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Cash amounting to around Rs 2 crore, gold weighing 200 gm and one BMW car have been seized from the possession of the trio, he said.

All three were produced before a city court on Monday, which remanded them in police custody till November 20, the officer added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)