In the town of Pipariya in Madhya Pradesh, a police case was registered against the manager of the Axis Bank and two jewellers for filching a gold loan worth Rs 4 crores. On orders of Superintendent of Police (SP) of Narmadapuram, Dr Gurkaran Singh, an FIR was filed against all the accused involved.
As per the complaint given by the head manager of the Axis Bank in Pipariya, Ashok Kumar Agrawal, the bank branch manager and the two jewelers colluded and defrauded the bank by getting fake gold from customers in return for a huge sum of money.
The investigation team, set up by SP Singh, uncovered the fraud after an audit of the bank. The persons accused of the crime included the bank manager, Ram Raghuwanshi, assistant branch manager Anil Patel, gold loan in-charge Rohit Raghuwanshi, Shailendra Soni, owner of SK jewellers store and Anand Soni, owner of Krishna jewellers store.
Axis Bank is one of India’s leading private banks, operating a network of 3,004 bank branches and 13,814 ATMs across the country. It has a presence in 2,924 cities and towns and offers a comprehensive range of products and services ranging from corporate banking, retail banking, institutional banking, rural banking and investment banking services. The bank also offers a variety of saving and investment products like mutual funds, term deposits and gold loan etc.
Ram Raghuwanshi is the branch manager of the Axis Bank in Pipariya and has been accused of defrauding the bank of a gold loan amount of Rs 4 crores. He was been charged along with two jewellers, Shailendra Soni and Anand Soni, for accepting fake gold from customers and granting them the loan against it. All the accused were booked by the Mangalwara Police according to the orders of SP Singh.
