Sikkim vigilance police arrest former State Bank of Sikkim General Manager in disproportionate assets case

The Sikkim Vigilance Police (SVP) arrested a former General Manager of the State Bank of Sikkim (SBS) in a disproportionate assets case, officials said in a press release on Wednesday, September 30.

The accused was arrested on September 28 following an investigation into allegations that he and his family possessed assets allegedly disproportionate to their known sources of income.

The SVP also conducted searches at several residential premises in and around Gangtok and Siliguri. According to the vigilance department, some of the properties are suspected to have been acquired using funds allegedly siphoned off through corrupt practices.

The case was registered following an FIR based on specific information regarding the alleged accumulation of disproportionate assets by the former bank official and his family.

According to the preliminary investigation, the accused allegedly indulged in corrupt practices during his tenure as General Manager between 2022 and 2024. The SVP has alleged that he deceived bank customers and beneficiaries and siphoned off crores of rupees.

The investigation further indicated that the allegedly siphoned funds were used to acquire buildings and plots of land, some of which were registered in the names of the accused and his wife, the department said.

During the searches, officials seized documents and other material relating to the alleged assets. The SVP said the seized material indicated the suspected use of proceeds of crime.

The vigilance department said further investigation would be conducted to ascertain the total value of the assets and initiate attachment proceedings under the applicable law.

The SVP also said that, based on an earlier FIR registered against the same former SBS official, the Enforcement Directorate had provisionally attached immovable properties worth crores of rupees.

The vigilance department added that it had previously registered multiple FIRs in connection with alleged corruption involving several SBS officials across different branches. Investigations into those cases are currently underway.