Daijiworld Media Network – Bengaluru
Bengaluru, Jun 21: Despite drawing a handsome salary and holding a respected position in society, an Axis Bank branch manager allegedly succumbed to greed and masterminded a multi-crore fraud, cheating a businessman of Rs 2.66 crore. The accused, along with two accomplices, has been arrested by the Bagalagunte Police in Bengaluru.
The arrested have been identified as Vinod Kumar, manager of the Axis Bank branch at Bagalagunte, and his associates Arun Kumar and Kiran. Police said Vinod Kumar has been booked for allegedly cheating a businessman of Rs 2.66 crore after luring him with the promise of securing a lucrative business contract worth Rs 30 crore, and all three accused were arrested within two days of the complaint being lodged.
According to the police, Vinod Kumar targeted Subramani, a businessman who carried out large-scale transactions through the same Axis Bank branch where he was employed. Subramani, who operates a transport and manpower agency, reportedly handles transactions exceeding Rs 10 crore every month, and investigators believe the accused carefully studied his financial profile before planning the fraud.
To execute the scheme, Vinod allegedly procured a SIM card using another person’s identity and opened fake bank accounts in the names of two unsuspecting daily-wage labourers, which were later used to receive the siphoned funds. Posing as a well-connected individual with influence, he then contacted Subramani through WhatsApp calls and claimed he could secure a business contract worth nearly Rs 30 crore, demanding a 10% commission as a condition. He further convinced the businessman that an advance payment was necessary to facilitate the deal, following which Subramani transferred Rs 2.66 crore through RTGS into the fake accounts created by the accused.
Soon after the money was credited, Vinod allegedly switched off his mobile phone and became unreachable, raising immediate suspicion. When Subramani approached the bank seeking clarification about the transaction and the promised contract, he reportedly failed to receive any satisfactory explanation from the manager, prompting him to realise he had been cheated and file a complaint with the Bagalagunte Police Station.
Acting swiftly on the complaint, Bagalagunte police launched a coordinated investigation and used technical and digital evidence to trace the accused. Within just two days of registering the case, officers arrested Vinod Kumar along with Arun Kumar and Kiran. Police said Kiran, who worked as a pigmy collector, allegedly assisted in withdrawing and converting the fraudulently obtained money into cash.
The accused are currently being subjected to detailed interrogation, and investigators are probing whether the gang was involved in similar offences elsewhere while also attempting to trace the flow of the diverted funds. The case has highlighted how individuals in positions of trust, armed with insider knowledge of banking systems, can exploit unsuspecting customers through carefully planned financial deception.