Ballia, March 30: Cases of financial scam and duping continues to be reported from various parts of the country as a man has been arrested for running a fake branch of Karnataka Bank in Ballia's Mulayam Nagar area in Uttar Pradesh. According to reports, the bank had been running for over a month and police also recovered several documents, a computer and deposits the accused had taken from the locals.

The Ballia police arrested Aafaq Ahmed of Badayu district, who impersonated as the branch manager and went by the name Vinod Kumar Kambali. A case has been registered, the police said.

"We have recovered cash worth Rs 1.37 lakh, three computers, several equipments, documents and a register in which it is written that 15 bank accounts were opened," the police added.

Earlier in the month, they were reports from Karnataka that a Bengaluru ponzi scheme run by an investment firm had duped former Indian cricketer Rahul Dravid and Badminton legend Prakash Padukone among 800 others. According to police reports, Rahul Dravid had deposited Rs. 20 crore and hasn't even received his principal amount back. The Bengaluru investment firm's ponzi scheme was reported on March 12 and police had arrested the owner of the company. (With Agency Inputs)

(The above story first appeared on LatestLY on Mar 30, 2018 08:47 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).