Kota, June 6: A bank fraud has come to light from Kota, Rajasthan, where a relationship manager at ICICI Bank allegedly siphoned off INR 4.58 crore from the bank. It was learned that the banker stole the money from the customer accounts and went on to invest it in stocks. The accused banker was later identified as Sakshi Gupta, who was later arrested by the police after the scam came to light.

Accused Banker Invested Stolen Money Into Stock Market

According to a report in NDTV, Sakshi Gupta siphoned off over INR 4.50 crore from 110 fixed deposit accounts, not 10, 30, or 50. After stealing the money from the FDs, the accused woman diverted the funds by investing them in the stock market. The fraud, which had been going on for two years, came to light when a customer flagged a missing FD. It is reported that the 110 FDs belonged to more than 41 customers. IndusInd Bank Fraud, Incorrect Accounting Lead to Bank’s Worst-Ever Show in Q4 With INR 2,329 Crore Loss, Chairman Sunil Mehta Promises No More Setbacks Ahead.

Preliminary investigation revealed that Sakshi Gupta, who worked as the relationship manager at ICICI Bank in Kota, misused the 'User FD (Fixed Deposit) link to steal the money. The fraud occurred between 2020 and 2023. Police officials said that Gupta invested the money in the share market after siphoning off the money from 110 accounts of 41 customers.

Scam Unearthed After Customer Inquires About His FD

It is also reported that the RM failed to deposit the money after she incurred heavy losses in the stock market. She was arrested on June 4 during her sister's wedding. After her arrest, Gupta was sent to judicial custody. While the scam has been unearthed and the accused has been arrested, it's essential to know how the bank fraud came to light.

ICICI Bank Fraud Occurred in Rajasthan's Kota

According to the report, the bank fraud came to light when one of the customers went to the bank to inquire about his fixed deposit. Following this, the bank approached the local police and filed a case on February 18. During the investigation, cops also found that Sakshi Gupta changed customers' mobile numbers linked with the accounts so that they would not learn about the transaction messages. Rajasthan Shocker: Robbers Loot INR 14.5 Lakh Currency Garland at Gunpoint After Wedding in Bhiwadi, Video and Photos Surface.

Cops also discovered that Gupta linked her family members' phone numbers to these accounts and withdrew over INR 4 crore. Ibrahim Khan, the investigating officer, said that the accused devised a system to get the OTPs on her system so that the account holders would not get a whiff of the fraud. While ICICI Bank has yet to issue an official statement, sources revealed that the bank would compensate the customers for the loss.

(The above story first appeared on LatestLY on Jun 06, 2025 10:12 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).