Kota, Rajasthan – June 8, 2025 In a startling breach of trust, Sakshi Gupta, a relationship manager at ICICI Bank’s Kota branch, has been arrested for allegedly siphoning off ₹4.58 crore from more than 110 customer accounts over a period of two to three years. Modus Operandi Targeting Vulnerable Customers: Gupta reportedly exploited elderly and digitally less savvy clients, altering their registered mobile numbers and ATM PINs to carry out unauthorized transactions undetected. Breaking Fixed Deposits & Overdraft Misuse: She is accused of prematurely encashing fixed deposits worth ₹1.34 crore and fraudulently activating overdrafts across 40+ accounts Stock Market Trail: the embezzled funds were invested in the stock market, ultimately resulting in catastrophic losses after she “blows it all,” as reported by India Today.
How the Scam Came to Light The scheme unraveled when a customer noticed suspicious fund transfers and missing fixed deposit closures. An internal audit followed, leading to police involvement, Gupta’s arrest on May 31, and her subsequent judicial custody. {source, hindustantimes} Profile of the Accused Name: Sakshi Gupta, Relationship Manager, ICICI Bank, Shriram Nagar branch, Kota. Allegation Summary: Unauthorized access to 110+ accounts belonging to 41 customers over 2–3 years; transactions included ATM withdrawals, account overdrafts, FD breakages, and fraudulent personal loans (~₹3.4 lakh). Next Steps in the Investigation Tracing Money Flows: Authorities are examining the stock market transactions and potential accomplices. Account Audits: Analyzing how mobile details, PINs, and OTP controls were manipulated. Victim Statements: Gathering depositor testimonies, with a particular focus on elderly and vulnerable demographics.