💰 ICICI Bank Employee Sakshi Gupta in Kota Steals ₹4.58 Crore from Customers, Squanders It in Stock Market
In one of the most shocking banking frauds of the year, Sakshi Gupta, a former relationship manager at ICICI Bank’s DCM branch in Kota, has been arrested for embezzling ₹4.58 crore from customer accounts and recklessly investing the amount in stock market trades that eventually failed.
🧠 Modus Operandi: Manipulating Mobile Numbers and OTPs
Sakshi Gupta worked at ICICI from 2020 to 2023, during which she altered the registered mobile numbers linked to over 110 accounts belonging to 41 customers. By replacing legitimate numbers with those of her relatives, she ensured customers wouldn’t receive OTPs or transaction alerts, allowing her to transfer funds unnoticed.
In one case, she even used the account of an elderly woman unaware of her account activity as a shell account to pool and move funds discreetly.
📉 High-Risk Stock Market Trading Turns Catastrophic
Instead of hiding or laundering the stolen funds, Sakshi Gupta invested most of the money in stock market trades. Her gamble backfired. By February 15, 2023, she had funnelled over ₹3 crore into a single pooled account—money that was wiped out in failed trades.
🚔 Complaint, Arrest, and Legal Action
The case came to light when ICICI Bank branch manager Tarun Dadich filed a police complaint at Udhyog Nagar Police Station on February 18, 2023. After months of investigation, Kota Police arrested Gupta last week from her parental home in Rawatbhata, Chittorgarh district.
She was remanded for one day and is now in judicial custody.
📌 Ongoing Investigation & Bank Response
Authorities suspect further misuse of debit cards, ATM PINs, and overdraft facilities and are examining additional transactions. ICICI Bank issued a statement confirming that “genuine customer claims will be honoured” and reiterated its zero-tolerance policy on fraud.
This incident has once again raised red flags about internal control systems in Indian banks, especially regarding account alerts, employee privileges, and mobile number linkage protocols.
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