Bank Fraud Case: Rs 1.42 Crore Fraud Registered Against SBI Branch Manager and Entrepreneur
A shocking case of financial fraud involving Rs 1.42 crore has been registered by Majhola Police. The accused in this case include a branch manager of the State Bank of India (SBI) and an entrepreneur. The complaint was filed after allegations emerged that the entrepreneur withdrew a huge sum of money by forging his business partner’s signature on multiple cheques. When the partner demanded repayment, threats were allegedly made. The police are now investigating the case thoroughly.
Background of the Complaint
The entrepreneur, Aviral Agarwal, a resident of Ramganga Vihar Colony, has filed a plea for justice with the Deputy Inspector General (DIG) of Police. According to Aviral, his business partner, Vipin Chaddha, a resident of Madhubani Colony Civil Lines, operates an export company called Palatial Design Private Limited, located near Chauhan Market in Lakdi Fazalpur, Moradabad.
Aviral and Vipin are 70% shareholders in this company through their partnership in another firm named Rayas Overseas. Two other individuals, Shivang Kakkar from Leelaji Bhawan near the Moradabad jail, and Utkarsh Jain from Jabalpur, Madhya Pradesh, each own a 15% stake in the company.
The company’s current account is held at SBI’s Prakash Nagar Majhola branch, and Aviral’s signature is required for any major financial transactions from this account.
How the Fraud Unfolded
On June 14, 2024, Aviral’s accountant noticed an unusual cheque number listed in the firm’s account statement. This raised suspicions, and upon further inquiry, Aviral discovered that several cheque books had been issued without his knowledge. These cheque books had been signed and used by Shivang Kakkar.
Further investigation revealed that Shivang had forged Aviral’s signature on a total of 145 cheques and fraudulently transferred Rs 1,42,51,213 through RTGS (Real-Time Gross Settlement) with the alleged connivance of the SBI branch manager.
False Transactions and Misuse of Funds
Shivang reportedly claimed that the money was being used to purchase raw materials for the business. However, when Aviral questioned the recipients of the cheques, they revealed that Shivang had collected cash from them instead of supplying any raw materials to the firm. This indicated a clear case of fraud within the partnership.
Threats and Abuse
When Aviral confronted Shivang on September 25, asking him to return the stolen money, Shivang allegedly abused him and even issued death threats. This prompted Aviral to report the matter to the police.
Police Investigation
Based on Aviral’s complaint, the Majhola Police registered a case of fraud against both Shivang Kakkar and the unidentified SBI branch manager. Station in-charge Mohit Chaudhary confirmed that a detailed investigation is underway, and action will be taken based on the findings.
Land Fraud Case in Majhola: Fake Sale Deeds and False Documents
In a separate case, Majhola Police have also registered a land fraud case involving 17 individuals. This case was filed after allegations emerged that fake Aadhaar cards and forged documents were used to illegally sell land belonging to someone else.
Details of the Land Fraud
Somveer, a resident of Gagan Wali Mainather, filed a complaint, claiming that his father, Chhuttan, had sold part of their family land in TP Nagar but had left a portion of it for Somveer’s use. After his parents passed away, Somveer had rightful ownership of the remaining land.
However, Somveer discovered that some people had prepared fake documents for this vacant land and had sold it without his consent.
Illegal Sale Transactions
The police investigation revealed several fraudulent transactions:
- November 13, 2024: Ajay Chauhan, son of Darshan Singh from Parshupara Baje, Bhagatpur, registered a 59.75 square meter plot using forged documents. Witnesses for this transaction were Shakti Singh from Laxman Bihar, Gurgaon, and Chandra Prakash from Daulat Bagh, Moradabad.
- September 15, 2023: Priyanka Devi, daughter of Shivkumar Singh from Shahi Gramin, Bareilly, illegally registered a 125.76 square meter plot. Witnesses included Shakti Singh and Jitendra Kumar from Rahtol, Sambhal.
- April 20, 2024: Sachin Raghav from Milk Rahtol, Nakhasa, registered 35.13 square meters of land. Witnesses included Jitendra from Prakash Nagar Linepar and Angad Mishra from Ekta Colony.
- Another Fraudulent Sale: Nisha Devi, wife of Ranveer Singh from Rahtol, Nakhasa, Sambhal, registered 105.39 square meters of land with witnesses Atveer Singh from Jayantipur, Majhola, and Jitin Kumar from Rahatol.
Ongoing Investigation
The police have launched an investigation into all these fraudulent land deals. According to Majhola Police, more suspects could emerge as they dig deeper into the case.
Conclusion
Both cases reflect serious allegations of fraud and forgery. The Majhola Police are working on gathering evidence and taking legal action against those involved. This serves as a warning to individuals and businesses to stay vigilant about financial transactions and property dealings to avoid falling victim to such fraudulent schemes.
