Rs 3.8 Crore Fraud Uncovered At Kotak Mahindra Bank In Bihar; 28 Booked

Gaya: A major banking fraud, involving the misappropriation of around Rs 3.8 crore, has been uncovered at the Kotak Mahindra Bank branch on GB Road in Bihar’s Gaya, police said.

An FIR has been registered at Civil Lines Police Station against 28 individuals, including two former bank managers, and the police have launched an investigation.

The multi-crore fraud was allegedly orchestrated through the collusion of fraudsters and bank officials. The case was filed following a written complaint by Kumar Dipesh, an assistant manager at the bank branch, regarding the misappropriation of a substantial amount.

The scam came to light when the bank’s central team verified certain suspicious loan accounts during an internal audit, which revealed that the engine numbers, chassis numbers, and ownership details of the vehicles listed in the files were entirely fabricated. Loans had been disbursed based on these forged documents.

The audit report clarified that this was not a case of human error but a premeditated, large-scale conspiracy.

According to the FIR, the named bank officials include Waris Azam, Relationship Manager, Sales Division, and Rohit Raj, Team Sales Manager. It is suspected that these officials processed the fraudulent files out of greed for substantial commissions. Established banking norms for loan approval were violated, and the proceeds of the fraud were shared among the conspirators.

Superintendent of Police (SP), Gaya, Abhinav, said that a thorough probe covering various aspects was underway after the case was filed at the Civil Lines Police Station. “As the bank is currently closed, records have been examined only at a preliminary stage. We have initiated further legal action to apprehend the accused, and other individuals linked to this racket will soon be arrested,” he added.

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