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.