Employees of Citizen’s Bank are assisting police who are investigating a multi-million dollar fraud which occurred last month at the bank.

A release from the bank on Monday said that the police are investigating the fraud involving the sum of $15M, which was committed on the bank in mid-September when a manager’s cheque was purchased against the savings account of a customer who had an account at the bank since 2005.

According to the release the fraud was committed when someone representing himself as a legitimate account-holder purchased a manager’s cheque in the sum of $15M on September 14, 2005 which was subsequently converted into cash.

Stabroek News understands that the fraud was detected after the customer visited the bank and discovered that a large sum of money was missing from his account.

An investigation was then launched by the bank.