A manager from Axis Bank in Sirsa and his accomplice were arrested on Thursday in connection with a cyber fraud case involving Rs 31 lakh, which was reported in January 2025.
The manager, Tarun Bansal, who worked at the Kalanwali branch of Axis Bank in Sirsa, and his accomplice, Harvinder, an unemployed man from Kalanwali, were caught by the police in Sirsa. They were then sent to judicial remand on Friday.
The case began when a victim filed a complaint with the police on December 20 of the previous year. The victim claimed he had been tricked out of Rs 31 lakh by fraudsters who promised high returns from cryptocurrency trading. The fraudsters convinced the victim to transfer money into different bank accounts, assuring him that the funds would be invested in crypto trading. Although the victim saw his virtual account showing profits, when he tried to withdraw his money, the fraudsters blocked his account and cut off all communication.
Based on the victim’s complaint, a thorough investigation was started. The police registered a case in January 2025 under Section 318 (4) of the BNS, which deals with cheating and dishonest inducement for the delivery of property.
During the investigation, the police traced a part of the defrauded money to Harvinder’s Axis Bank account, with Rs 7 lakh transferred there. Harvinder admitted that he allowed the fraudsters to use his bank account through the help of Tarun Bansal, the bank manager. As a result, the police arrested Bansal, who had been working at Axis Bank for over two and a half years. Harvinder revealed that he had been getting a 2.5% commission for each amount transferred out of his account, while Tarun Bansal was charging a 5% commission. The police also seized a chequebook from one of the accused’s possession.
Both the accused were sent to judicial remand on Friday as the investigation continues.
