ICICI Bank employee siphons ₹4.58 crore from customers, loses most in stock market

In a shocking breach of trust, an ICICI Bank relationship manager in Kota, Rajasthan, has been arrested for allegedly swindling ₹4.58 crore from 41 customers over a span of two years. The accused, Sakshi Gupta, reportedly manipulated bank records to change customers’ mobile numbers to those of her relatives, preventing them from receiving transaction alerts and OTPs. This allowed her to siphon off funds without triggering suspicion.

Police investigations revealed that Gupta rerouted the stolen funds through multiple customer accounts, including that of an unsuspecting elderly woman, which she used as a “pool account.” More than ₹3 crore had been transferred to this account by early 2023. She also closed fixed deposits, activated overdraft facilities, took loans in customers’ names, and misused debit cards and digital platforms to move money—much of which she lost in high-risk stock market trades.

Authorities say the fraud came to light when the branch manager filed a complaint, prompting Gupta’s arrest from her native place in Chittorgarh. The bank confirmed she was suspended and reassured that all genuine customer claims have been settled.