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A major financial fraud has come to light in the state capital, where more than ₹10 crore has allegedly been siphoned off from at least 60 customers in the name of fixed deposits at a public sector bank branch. The scam centres on a bank correspondent accused of withdrawing money from customers’ accounts and issuing forged FD documents, leaving depositors without their savings.
The matter escalated on Friday after dozens of affected customers gathered at the bank premises located within a university campus in the Para area, demanding action and the registration of a criminal case. Victims alleged that their complaints to the police had not resulted in immediate action, prompting further outrage.
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According to complaints submitted to the authorities, the accused bank correspondent targeted customers who trusted him to process fixed deposits on their behalf. Several depositors claim that large sums were withdrawn in cash from their accounts without their consent, while forged FD receipts were handed over to them as proof of investment.
One depositor, a dairy trader from a nearby locality, alleged that after selling land in 2023, ₹50 lakh was credited to his bank account. Of this amount, ₹18 lakh remained in the account. In January 2024, he was allegedly persuaded to allow a cash withdrawal of ₹10 lakh on the assurance that the amount would be converted into a fixed deposit. He later discovered that the documents provided were fake. He further alleged that the remaining ₹8 lakh in his account was also withdrawn without authorisation.
Similar allegations were made by other customers, including a woman from the Mohan Road area, who claimed that over ₹8 lakh meant for an FD was misappropriated. Several victims alleged that the forged FD documents even carried what appeared to be genuine signatures, raising concerns about serious procedural lapses.
All 60 affected customers have submitted written complaints seeking criminal action and recovery of their money. Many claimed that they realised the fraud only after visiting the bank to obtain account statements, which revealed unauthorised withdrawals.
The case has taken a more serious turn following allegations of police excess. A disabled youth,⁷ who is among the victims, has accused police personnel of assaulting him when he went to lodge a complaint at a police station. The youth, a student enrolled in a diploma course, alleged that funds credited to his account as a government scholarship were also withdrawn fraudulently.
According to his complaint, around ₹90,000 in scholarship money had been deposited into his account over the past three years. Along with other savings, a total of ₹1.20 lakh was allegedly withdrawn without his knowledge. He has now submitted a complaint on the Chief Minister’s public grievance portal, seeking intervention and protection.
Police officials have denied the allegations of assault, stating that the claims are baseless and that the matter will be examined. They said a formal case would be registered after receiving a consolidated report on the number of victims and the total amount involved.
Meanwhile, banking officials have begun internal verification of account records and transaction histories. The incident has raised questions about oversight of bank correspondents and safeguards meant to protect customers, particularly those from vulnerable sections.
Victims have demanded swift registration of an FIR, arrest of the accused, and recovery of the defrauded money. As of now, customers remain anxious, with many stating that their life savings were wiped out through what they describe as a systematic and well-planned fraud.
Further action is expected once preliminary verification is completed and official complaints are formally processed.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
