Rs 4.58 crore stolen from ICICI bank customers: Broke FDs, created overdraft and personal loan; how relationship manager executed fraud

A 26-year-old ICICI Bank relationship manager in Kota, Rajasthan, was arrested for allegedly stealing Rs 4.58 crore from unsuspecting customers, including senior citizens between 2020 and 2023. This issue came to light in the internal audit of ICICI Bank and the bank reported the matter to police. The RM used the funds for speculative stock market trading in future and options (F&O), manipulating bank systems and customer information to conceal her actions. As per bank, after it came to know about the fraud it has refunded money to all depositors. Read below to know more about this.