Shanti Bhushan, 38, was taken into custody from his East of Kailash home, where he lives with his parents, wife, and two children. Police said losses in the share market could have driven him to fraud.

A senior police officer said the bank lodged a complaint naming Bhushan last month, alleging that over Rs 1.8 lakh had been fraudulently withdrawn from the account of one Bhugani Devi.

He said a preliminary inquiry by the bank had discovered Bhushan’s involvement. The bank had ordered his transfer to a branch in Uttarakhand. Bhushan was arrested after CCTV footage from an ATM showed him making the withdrawal from the account. Police has also seized some forged vouchers.

Police said that during interrogation Bhushan, who had access to account details, revealed that he traced out accounts that had large balances but had not been in use for long. He then had ATM cards made for some of them.

Using forged vouchers, he transferred money from the dead accounts to those for which he had ATM cards. “This way he withdrew over Rs 4 lakh,” DCP (South) Anil Shukla said.