The MIDC police have arrested an employee of a private limited bank for allegedly embezzling more than R2.05 crore through fraudulent transactions. Meanwhile, several other bank employees suspected of involvement in the scam are absconding, and a search operation is underway to track them down.

According to police sources, the arrested bank employee has been identified as Sagar Mohan Mishra, who worked as a UPI reconciliation officer at the bank’s branch in Andheri. Mishra was apprehended by the MIDC police team in Andheri on Saturday and was produced before the Bandra Holiday Court on Sunday for remand.