The Central Bureau of Investigation (CBI) has registered two separate cases against a former branch manager of the State Bank of India (SBI) and two brokers in connection with a large-scale bank fraud and corruption scandal.
The investigation focuses on fraudulent loan approvals at the Ramkrishna Nagar branch in Assam’s Karimganj district, leading to significant financial losses for the bank.
Acting on the complaints, the CBI’s Shillong-based Anti-Corruption Branch (ACB) registered two cases on March 25, 2025.
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The first case (RC NO 0202025A0001) names Pinku Kumar, the former SBI branch manager, along with broker Sumen Paul. The second case (RC NO 0202025A0002) also implicates Kumar, in addition to broker Jadab Paul.
During raids conducted at the accused individuals’ premises, investigators unearthed a treasure trove of valuables, including 481 grams of gold, 11.11 grams of diamond-studded jewelry, and 1,092.80 grams of silver.
The agency is now working to determine whether these assets are directly linked to the fraud or part of other illicit dealings.
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According to the CBI’s findings, Kumar, in collaboration with middlemen, was allegedly approving loans based on forged documents. This fraudulent operation resulted in substantial financial damage to SBI, running into crores of rupees.
Investigators believe Kumar was the mastermind behind the scheme, while brokers Sumen Paul and Jadab Paul played key roles in orchestrating the scam.
As the probe intensifies, the CBI is expected to widen its investigation to uncover further links in this elaborate fraud network.