ICICI Bank Scandal: Relationship Manager Swindles ₹4.58 Crore, Loses Most in Stock Market

Kota (The Uttam Hindu): A relationship manager at ICICI Bank's DCM branch in Kota, Rajasthan, has been arrested for allegedly swindling ₹4.58 crore from customers' accounts and losing most of it in the stock market. Sakshi Gupta, the accused, was posted as a relationship manager at the branch and allegedly pilfered from over 110 accounts belonging to 41 customers for around two years.

Modus Operandi

Gupta allegedly changed the mobile numbers linked to the account holders to her relatives' numbers, ensuring that customers did not receive transaction alerts or OTPs. She then systematically transferred funds to different accounts, using an elderly woman's account as a "pool account" to funnel money. Gupta also misused debit cards, PINs and OTPs for these transactions and activated overdraft facilities on 40 accounts without consent.

Investigation and Arrest

The branch manager, Tarun Dadich, filed a complaint against Gupta on February 18, leading to her arrest from her parental home in Chittorgarh district's Rawatbhata. Gupta was sent to judicial custody after a day's remand for interrogation.

Bank's Response

ICICI Bank has suspended the employee and settled genuine claims of impacted customers. The bank has a zero-tolerance policy against any fraudulent activity and immediately filed an FIR upon discovering the activities.

Details of the Scam

- ₹4.58 crore swindled from customer accounts

- Over 110 accounts belonging to 41 customers affected

- ₹3 crore transferred to a "pool account"

- ₹1.34 crore funneled from fixed deposits of 31 customers

- Personal loan of ₹3.40 lakh taken by the accused

- Debit cards of at least 4 customers used for ATM and internet banking