Gaya: A major banking fraud involving alleged misappropriation of nearly ₹3.8 crore has been uncovered at Kotak Mahindra Bank’s GB Road branch in Bihar’s Gaya district. Following an internal audit, an FIR has been registered against 28 individuals, including two former bank officials, and police have launched a detailed investigation into the suspected conspiracy.
Audit Exposes Forged Documents
The case was registered at Civil Lines Police Station based on a written complaint filed by Kumar Dipesh, Assistant Manager of the bank. The complaint alleged large-scale financial irregularities and fraudulent disbursal of vehicle loans.
Registration Begins for FutureCrime Summit 2026, India’s Largest Cybercrime Conference
According to investigators, the fraud came to light during an internal audit conducted by the bank’s central team. The audit identified several suspicious loan accounts and found that engine numbers, chassis numbers and ownership details of vehicles submitted with loan applications were allegedly fabricated.
Despite the forged documents, loans were allegedly sanctioned and disbursed, causing substantial financial losses to the bank.
Former Bank Officials Named
The FIR names several accused, including former bank officials Waris Azam, who served as Relationship Manager in the Sales Division, and Rohit Raj, Team Sales Manager. Investigators suspect fraudulent loan applications were processed in exchange for commissions, while loan verification procedures were allegedly ignored.
Police believe the fraud involved coordination between insiders and external accused who manipulated documentation to secure vehicle loans on the basis of fictitious assets and fabricated borrower information.
Financial Trail Under Probe
Investigators are examining loan files, customer records, financial transactions and internal approval processes to determine the role of each accused. Police are also reviewing whether similar fraudulent loan transactions were carried out in other branches or over a longer period.
Gaya Superintendent of Police Abhinav said a detailed investigation is underway after registration of the FIR. Further legal proceedings have been initiated to arrest the accused, and additional arrests are expected as the probe progresses.
The investigation is continuing, with police scrutinising banking documents, financial records and the alleged network behind the multi-crore fraud.
