Firozabad: In a strong message against bank fraud, a local court has sentenced an Indian Bank cashier to life imprisonment and sent five other accused to jail for 10 years for cheating customers of more than ₹1.85 crore.
The verdict was delivered on Friday by Additional District and Sessions Judge Sarvesh Pandey. The main accused, cashier Jaiprakash Singh, was found guilty of siphoning off money from customers’ accounts. Along with life imprisonment, the court also imposed a fine of ₹5.5 lakh on him. Five others, including a former bank manager and associates, were awarded 10 years of rigorous imprisonment each.
What is the fraud all about?
According to police, the fraud came to light on March 19, 2025, when several customers of the Indian Bank branch in Jasrana complained that the money they had deposited in their bank accounts was not showing in their accounts.
On March 19 when a customer named Amit Gupta noticed something unusual in his bank account. He found that the balance in his account did not match the amount he had deposited. He reported the same to the bank authorities. Soon after his complaint, several other customers checked their accounts and reported similar problems. This series of complaints raised serious concerns, leading the bank to initiate an internal investigation.
Customers started assembling in the bank premises and demanded a thorough investigation into the case. People were seen crying and hopeless as they had lost a large sum of money.
During the internal inquiry, it was found that the allegations were not baseless. The investigation established that there were indeed irregularities in the customers’ accounts. As a result, the bank took swift action by suspending two key officials of the Jasrana branch—Branch Manager Raghvendra Singh and Cashier Jaiprakash Singh. Bank’s regional head Tarun Kumar Bishnoi lodged an FIR at Jasrana police station.
The investigation revealed that nearly ₹1.86 crore was misappropriated from over 100 bank accounts over a period of time. Police said the accused worked together in an organised manner to carry out the fraud.
A chargesheet was filed against Jaiprakash Singh and the other accused, who are residents of different areas in Firozabad and Mathura districts. The case was taken up under ‘Operation Conviction’, where police presented strong evidence and witnesses before the court.
In a notable achievement, the court delivered its judgment within 172 days of the case being filed. Senior Superintendent of Police Saurabh Dixit called the conviction a major success and said it reflects the commitment of the police and judiciary to ensure quick justice in financial crime cases.
The case has sent a clear warning that those involved in banking fraud will face strict punishment.
