Raipur: The Chhattisgarh Anti-Corruption Bureau and Economic Offences Wing (ACB/EOW) has arrested an SBI chief manager in Raipur for allegedly siphoning off more than ₹2.78 crore from an internal bank account and investing it in cryptocurrency, options, and commodity trading.
The case was registered on December 17 after SBI’s regional office in Raipur filed a complaint. The accused, Vijay Kumar Aakhe, was the branch head of SBI’s SCAB branch, a highly sensitive unit that handles cash management and supplies money to other SBI branches.
According to investigators, Aakhe misused a “suspense account” that had no upper limit and treated it like a blank cheque. Over eight months, he allegedly made fake entries and unauthorized transfers, diverting ₹2,78,25,491 into bank accounts belonging to him and his wife.
ACB/EOW chief Amresh Mishra said that Aakhe bypassed the bank’s Red Flag Indicator (RFI) system by repeatedly rolling over amounts through fake entries so that alerts would not be generated. The number of such fake entries reportedly increased over time to hide the fraud. The fraud came to light during routine inspection by SBI.
Aakhe was arrested on December 18, 2025, and produced in court. He has been booked under the Bharatiya Nyaya Sanhita and the Prevention of Corruption Act. Authorities said the investigation is continuing to find out if any other officials were involved or if supervisory failure allowed the fraud to go unnoticed for months.
During searches at Aakhe’s house, officials recovered documents and electronic evidence. They claim the stolen money was invested on trading platforms such as the Dhann app and Delta Exchange.
