Kota: After ICICI Bank’s internal investigation pinpointed Sakshi Gupta, a former relationship manager at the bank’s DCM branch in Kota, as the key figure behind a multi-crore fraud involving customer accounts, Kota police have launched an investigation to determine if others were involved and requested relevant documents from the bank. Tarun Dadhich, manager of the city’s ICICI DCM branch, on Feb 18, 2025, submitted a report at the Udhyog Nagar police station alleging that Gupta, the former relationship manager at the bank, siphoned off Rs 4.58 crore from 110 accounts belonging to 41 customers over a period between 2020 to 2023. Following the police inquiry, Sakshi Gupta was arrested on May 31 and was remanded to judicial custody following a one-day police remand for interrogation. Udhyog Nagar police station Circle Inspector Jitendra Singh said Saturday that while the internal inquiry identified Sakshi Gupta as solely responsible for the fraud, the police have sought additional documents from the bank to probe the possible role of other persons involved with her in orchestrating the multi-crore fraud. However, Singh said, prima facie, no involvement of other persons has surfaced yet. According to the police, Sakshi Gupta withdrew funds from more than 110 accounts belonging to 41 customers over a span of two and a half years, investing the siphoned amounts in the stock market. However, she suffered significant losses. To hide the transactions from customers, she replaced the registered mobile numbers on several accounts with those belonging to her relatives, ensuring that transaction alerts and OTPs were diverted from the actual account holders. In one instance, she used an elderly woman’s account—without her knowledge—as a ‘pool account’, moving over Rs 3 crore through it by Feb 15, 2023. The investigation also revealed that Gupta misused debit cards, PINs, and OTPs for unauthorised transactions, and even activated overdraft facilities on 40 accounts without customer consent. Further inquiry found she prematurely closed fixed deposits belonging to 31 customers, redirecting Rs 1.34 crore into unauthorised accounts. A fraudulent personal loan of Rs 3.4 lakh was also disbursed. Multiple transactions were executed using Insta Kiosk installations and digital banking platforms, with Sakshi exploiting four customers’ debit cards for ATM and internet banking usage. The proceeds were transferred to demat accounts as part of an attempted cover-up. Meanwhile, an ICICI Bank spokesperson said Friday, “The interest of our customers is of paramount importance to us. Immediately upon discovering the fraudulent activity, we filed an First Information Report with the police. We have a zero-tolerance policy against any fraudulent activity and thus suspended the employee involved. We would like to reassure that genuine claims of impacted customers have been settled.“
Cops probe role of others in multi-crore fraud by former ICICI Bank employee | Jaipur News
