Kota: In a shocking case of financial fraud, a relationship manager at ICICI Bank’s Kota branch, identified as Sakshi Gupta, has been arrested for embezzling over ₹4.58 crore from fixed deposit accounts of unsuspecting customers between 2020 and 2023.
According to investigators, Gupta misused her access to bank systems and exploited the ‘User FD’ feature to systematically withdraw funds from 110 fixed deposits belonging to 41 account holders. She allegedly manipulated the bank records and discreetly replaced customers’ registered mobile numbers with those of her own relatives.
“She even installed a system on her device to receive all OTPs directly. The account holders had no idea their money was being siphoned off,” said investigating officer Ibrahim Khan, as quoted by NDTV.
The fraud came to light only in February this year when a customer visited the branch to inquire about his FD. An internal audit was triggered, leading to the exposure of the large-scale misappropriation.
Gupta was arrested during her sister’s wedding and has since been sent to judicial custody. Investigators revealed that the stolen funds were funneled into the stock market, where Gupta reportedly lost most of the amount while gambling on equities.
The case has left customers stunned and shaken. “Where do we keep our money if not the bank? We can’t keep it at home either,” said Mahavir Prasad, a worried depositor who rushed to check his balance after news of the arrest broke, NDTV reported.
