Bank employee steals 4.58 Cr from Fixed deposit of customers, loses all in stock market

A former bank employee of the ICICI Bank Shriram Nagar branch of Kota has been arrested by Udhyog Nagar police for allegedly siphoning off approximately 4.58 crore of rupees from accounts of customers in a fraud that spanned for more than two years.

Sakshi Gupta, a relationship manager of ICICI, fraudulently stole this money from at least 41 customers and invested it in stock market in hopes of achieving high returns in a short span, but ended up losing it all.

She had access to more than 110 accounts of 41 customers and stole the money between 2020 and 2023.

The Customer could not realize it, as she concealed the fraud by changing the numbers of customers with her family members so that the customers do not receive the OTP and are not able to find out what is happening.

Her fraud came in light when she suffered heavy losses in the market and could not deposit the stolen money back into the customers’ accounts.

ICICI Bank immediately suspended her and filed an FIR against her when this fraud came into the limelight. The bank also claimed to have settled claims of the genuine customers.