Bank Official Steals Over ₹4 Crore From Customers’ FDs to Gamble in Stock Market
In a shocking betrayal of trust, a relationship manager at ICICI Bank in Kota, Rajasthan, has been arrested for embezzling ₹4.58 crore from fixed deposits of unsuspecting customers and funneling the funds into stock market investments, which eventually resulted in huge losses.
The accused, Sakshi Gupta, allegedly misused her access to the bank’s internal system — specifically the ‘User FD’ link — and siphoned off money from 110 accounts belonging to 41 customers between 2020 and 2023.
According to the police, she manipulated account details, including changing registered mobile numbers to those of her family members, ensuring that customers never received transaction alerts. She even developed a method to intercept OTPs on her own system, allowing her to bypass standard banking security.
The scam went undetected for three years until a customer visited the branch to check on his FD, raising the alarm. Following internal checks, ICICI Bank filed a police complaint on February 18, and Sakshi was arrested from her sister’s wedding late last night. She has since been remanded to judicial custody.
“This wasn’t just financial fraud — it was a cold, calculated breach of people’s trust,” said investigating officer Ibrahim Khan. He emphasized how deeply the manipulation went, from changing contact details to full control over account communications.
As panic spread, customers like Mahavir Prasad rushed to the branch to verify their savings. “Where should we keep our money now?” he asked. “It’s not safe at home, and clearly not safe in the bank either.”
While ICICI Bank has yet to release an official statement, internal sources have indicated that the bank will compensate affected customers.
This incident has not only raised serious questions about internal security lapses in the banking system but also the emotional trauma endured by those who trusted the institution with their lifelong savings.
News Source : Information for this article was gathered from a variety of reliable news outlets.
