A startling financial fraud has come to light at a private bank branch in Raipur, where an assistant manager allegedly betrayed a customer's trust to embezzle substantial funds. The accused managed to alter the registered mobile number linked to a woman's account, prematurely liquidated her fixed deposit, and walked away with nearly 15 lakh rupees. Following a formal complaint lodged by the victim, law enforcement agencies acted swiftly and detained the accused bank official, initiating rigorous interrogation to uncover the full extent of the conspiracy.
The incident unfolded at the Jail Road branch of Axis Bank situated in Raipur. The account holder, Sushma Kumar, resides in Fafadih and maintains her savings at this specific branch. Kuldeep Singh, a resident of Kota, was working as an assistant manager at the very same location. According to investigators, the employee orchestrated the scheme meticulously. The fraudulent activities began on May 17, when the accused allegedly generated a bogus email address using the customer's identity. He then filled out a fraudulent customer request form to alter the contact details on file.
Exploiting his position within the institution, the accused processed the request himself and replaced the customer's legitimate phone number with that of an acquaintance. Once the new contact number was successfully updated in the banking system, Kuldeep Singh activated the mobile banking application associated with the account. Gaining digital access allowed him to break the victim's fixed deposit, which held over 14.4 lakh rupees, well before its maturity date. He then pooled the liquidated FD funds with the remaining balance in the savings account, bringing the total stolen amount to 14.97 lakh rupees.
The illicit funds were subsequently transferred to the account of a private entity named Indian Sales, located in Gudhiyari. The money was later withdrawn using cheques and ATM machines to avoid immediate suspicion. The scheme unraveled on August 7, when Sushma Kumar visited the bank branch for routine transactions. Upon checking her passbook and account balance, she discovered a massive discrepancy. Finding nearly 15 lakh rupees missing from her deposits, she immediately raised an alarm with the branch management and filed a police complaint.
Internal scrutiny of bank records and digital logs by authorities exposed the direct involvement of the assistant manager. Consequently, the local police registered a criminal case against Kuldeep Singh and firm operator Yogesh Yede. During subsequent questioning, Kuldeep Singh claimed that he acted under the instructions of a former bank official named Abhishek Singh, who allegedly charted out the entire embezzlement blueprint. The detained employee alleged that he was promised 2.5 lakh rupees for his role, while Yogesh Yede received 50,000 rupees for providing the conduit account, with the remaining cash taken by the former officer.
Investigators noted striking parallels between this real-world financial crime and the plot of the Telugu film Zebra released in 2024, where a bank employee manipulates technical loopholes and contact records to siphon funds. Law enforcement authorities are currently verifying all statements made by the accused and are conducting thorough searches to apprehend any remaining suspects linked to the embezzlement ring.
