Axis Bank Manager Arrested for Cheating NRI Customer Rs 6.5 Crore Using Forged Cheques:

Axis Bank Manager Arrested for Cheating NRI Customer Rs 6.5 Crore Using Forged Cheques A relationship manager at Axis Bank in Hyderabad has been apprehended by the Panjagutta police for duping a Non-Resident of India (NRI) customer, a resident of Australia, of approximately Rs 6.5 crore. The arrest was conducted on Sunday, April 12, 2026. The victim has invested around Rs 6.3 crore in properties, stocks, insurance policies, and mutual funds under his and his family members’ names and advice about the same was given by the accused.

Also Read

RoDTEP Scheme Extended Till September 2026: Govt Continues Export Incentives with Unchanged Benefits

According to the police, the accused had built the victim's trust over time and then cheated him by collecting 42 signed black cheques in his name and syphoning funds from his investments. Taking advantage of the situation while the victim was abroad, he allegedly forged the customer’s signatures and withdrew large amounts of money from fixed deposits, mutual funds, and savings accounts. The funds were then transferred into multiple bank accounts. The victim became aware of the fraud in 2024, when irregularities were noticed in his accounts. Many of his accounts had already closed without his knowledge. Even after directly visiting the respective bank branches, he did not receive any proper clarification regarding the same. Thereafter, he filed a complaint at the police station, disclosing the entire scenario.

Also Read

ED Maharashtra Cracks Down on Ashok Kharat in Money Laundering Case; Conducts Raids at Several Locations

When the police started their investigation, they suspected that other bank staff, including senior officials and operations team members, may also be involved. Their roles in the case are presently under scrutiny. The accused has been charged with criminal violation of trust, forgery, and criminal intimidation. A special police team arrested the accused and presented him before the court. Currently, he has been sent to judicial remand. Police officials said his statement is being recorded, and they plan to seek custody for further investigation.