Bank Fraud Unveiled: Assam Gramin Vikash Bank Employees Under CBI Scanner

The CBI has filed a case against four Assam Gramin Vikash Bank employees for allegedly causing a financial loss of Rs 8.28 crore through a criminal conspiracy. The accused created fictitious SHG loan accounts to siphon funds, leading to CBI searches in Assam and West Bengal.

The Central Bureau of Investigation (CBI) announced on Tuesday that it has registered a case against four employees of Assam Gramin Vikash Bank (AGVB) in connection with a criminal conspiracy that reportedly led to a loss of Rs 8.28 crore for the financial institution.

According to an official statement, the accused individuals, who operated out of the Madhapur branch in Jorhat district, allegedly colluded with each other and outside parties to defraud the bank. The suspects include three assistant managers and a multi-purpose office assistant.

The CBI's investigation revealed that the accused authorized and disbursed loans to fake self-help group (SHG) accounts. These funds were then allegedly funneled into the personal savings accounts of one of the accused and other related accounts. The statement further noted that this scheme resulted in a financial loss of approximately Rs 8.28 crore to the bank while allowing the accused to benefit.

In light of these findings, the CBI conducted searches across seven locations in Assam, including the homes and offices of the accused in Jorhat, Tinsukia, and Dibrugarh districts, as well as a location in West Bengal. The searches led to the recovery of incriminating documents pertaining to the case.