2 JP Morgan staffers siphon off Rs 12 crore

BENGALURU: Two employees of JP Morgan Services India have been arrested for allegedly siphoning off Rs 12 crore that was to be

deposited into the account

of a

foreign company

.“Maruti alias Ramachandrappa, 22, of Doddagubbi and his colleague Suresh Babu, 28, of Bellandur quit their jobs after stealing the money three months ago.They bought land and other properties with the money ,“ Bengaluru city police commissioner T Suneel Kumar said on Monday .

They worked as

accountants with JP Morgan Services India

, Marathahalli, south-east Bengaluru, which is a technology-services provi der for JP Morgan Chase Bank, a global financial services firm.

Police have questioned two other employees of JP Morgan, whose negligence, investigators believe, helped Maruti and Suresh commit the crime.

The con came to light when the bank received a complaint from a foreign company that it had not received a payment of Rs 12 crore that it was to get through JP Morgan Chase Bank.

“After making enquiries, bank officials discovered that the transaction of Rs 12 crore had been carried out, but the same was not deposited into the company account. The

amount was diverted to another bank account

which had been newly opened,“ a police officer said.

The staffers at the JP Morgan Services who had carried out the transaction had resigned. “A complaint was lodged with Whitefield police, who zeroed in on Maruti and Suresh Babu. The suspects had changed their mobile phones and Sim cards to put police off their trail,“ police said.

Investigators began tracking the numbers from which the duo had received their calls. “We arrested Suresh Babu from near Mulabagal and found out that Maruti was holed up in a PG accommodation in Chennai. We made Suresh call Maruti, asking him to come down to Marina beach. We arrested Maruti when he arrived at the beach,“ police said.