ICICI Bank branch manager allegedly forges signature, siphons off Rs 11.95 crore; case under EOW’s scrutiny

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Delhi: ICICI Bank branch manager is accused of forging the signature of an NRI customer and committing fraud, allegedly siphoning off approximately Rs 12 crore and providing the customer with fake fixed deposit receipts. The branch manager is said to have admitted to the forgery. Initially estimated at around Rs 2.68 crore, further investigation suggests the overall fraud amount could reach Rs 12 crore, rising to Rs 16 crore when including interest.

According to ICICI Bank, the branch manager created an overdraft facility of Rs 2.7 crore by forging the customer’s signature on the overdraft account opening form. The bank urged the police to register an FIR, and the case has been transferred to the Economic Offences Wing (EOW) for investigation.

The victim alleges that the fixed deposit receipts, supplied by the branch manager with the bank’s stamp and official email ID, were forged. The complainant claims the fraud started in 2019 but came to light recently when they complained about the embezzlement. ICICI Bank maintains that transaction details were consistently sent to the customer’s registered mobile number and email ID.

The case has been registered under various sections of the Indian Penal Code, and the EOW is conducting a thorough investigation into the matter. ICICI Bank has expressed readiness to transfer the disputed amount of Rs 9.27 crore (pending investigation outcome) to the customer’s account with a lien.