Rajesh Sharma debunks a bank fraud case!

I,Rajesh Sharma worked this case as an independent financial analyst, along with the assigned assistant because whosoever money it is; money matters.

In the third week of June 2001, a man using the name of Raman Sharma opened up four different bank accounts at three different banks in Orissa. At the time each account was opened, between 2500 and 20000 cash was deposited. Sharma used the same scam at each bank; he would deposit a check into his new account and simultaneously withdraw a substantial amount of cash against the check.

For example, on May 26, he deposited some amount of check and at the same time withdrew some amount in cash out of it. He repeated the same process with similar amounts at two other banks until he walked away with a huge amount of cash. On June 1, the first checks bounced and by Sept 9 the bank determined — as the other banks also would — there wasn’t a good chance of recovery on the bank account, and it got closed & stated a fraudulent activity.

 So, always be aware about your banking activities, so that you are always on a white side and never grey.