A regional court has imposed a life sentence on a cashier working at an Indian Bank branch, while five additional individuals have received sentences of ten years of hard labor for illegally diverting more than Rs 1. 85 crore from over one hundred accounts, according to police statements made on Saturday.
Fraud Uncovered After Customer Complaints
The fraudulent activity was revealed when multiple clients of the Indian Bank branch located in Jasrana reported that their deposited sums were not appearing in their account statements.
Investigation Findings
As stated by SSP Saurabh Dixit, the fraudulent activity was revealed on March 19, 2025, when multiple clients of the Indian Bank branch located in Jasrana reported that their deposited funds were missing from their account records.
On Friday, Additional District and Sessions Judge Sarvesh Pandey found cashier Jaiprakash Singh guilty and imposed a fine of Rs 5. 5 lakh on him. Simultaneously, he sentenced former bank manager Raghvendra Singh, along with Praveen Kumar, Akash Mishra, Veer Bahadur, and Sukhdev Singh, to 10 years of imprisonment each.
Acknowledging the complaints, the bank’s regional manager Tarun Kumar Bishnoi filed a First Information Report at the Jasrana police station.
Convicted and Sentenced
The investigation found that Rs 1,85,97,000 had been wrongfully taken from over 100 accounts over a period, stated the Senior Superintendent of Police (SSP).
The police later submitted a chargesheet against cashier Jaiprakash Singh, a resident of Shaktinagar, along with Praveen Kumar and his father Kunwarpal, a home guard from Bihari village, Akash Mishra from Kothipura, Veer Bahadur from Shivnagar, and Sukhdev Singh from Balajipuram in Mathura.
The matter was investigated under ‘Operation Conviction’, with law enforcement designating it as a form of organized crime and providing evidence and testimony to the court.
Swift Justice
Dixit stated that the court issued its decision 172 days after the case was filed.
The police described the conviction as an important achievement in providing swift justice in cases of financial crime.
