Bank scam of 23 crores in Chhattisgarh! Embezzlement done by opening fake accounts, 11 arrested including bank manager

A scam of crores of rupees has been exposed in cooperative banks in Balrampur district. In the case of huge financial irregularities and fraud in the Central Cooperative Bank branches located in Kusmi and Shankargarh, the special team of police has taken major action and arrested 11 accused related to the bank management.

All the accused arrested are residents of Balrampur, Ambikapur and Korea districts and were working in various positions in the bank.

What is the whole case of the scam?

This action was taken after complaints of fraud and embezzlement of crores in Kusmi and Shankargarh branches of the Central Cooperative Bank of Balrampur district came to light. The SP of Balrampur revealed this scam in a press conference held on Tuesday. He told that the branch manager of the bank, Arvind Srivastava, had lodged a report in the police station in which the possibility of huge financial irregularities in both the branches was expressed. In January 2025, NABARD received a complaint letter from CEO, Janpad Panchayat Shankargarh. This letter mentioned suspicious transactions and large-scale financial irregularities in three bank accounts. After receiving the complaint, a team was formed by the bank department for internal investigation. But when the team did not investigate, the bank got a flash audit done by Naveen Upadhyay & Associates. This audit report revealed that a total of Rs 23 crore financial irregularities have been done in the accounts of various cooperative societies under Kusmi and Shankargarh branches. This amount was embezzled through fake accounts, forged documents and unauthorized transactions. During the investigation, the police found clear evidence that this fraud was done with the connivance of bank employees working at the branch level. All the 11 accused were working in some position or the other in Kusmi and Shankargarh branches, including branch managers, clerks, cashiers and employees associated with the concerned committees.

Separate FIRs have been registered in Kusmi and Shankargarh police stations regarding this financial scam. The special police team has taken immediate action and detained all the accused and further interrogation is going on. The SP said that the special police team is continuously working to get to the bottom of this scam. Strict action will also be taken against those officers and employees whose negligence or collusion will be revealed