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In a shocking revelation, an Indian-origin woman has alleged that she was duped of a staggering ₹13.5 crore by a manager at ICICI Bank through purported fraudulent activities. Shveta Sharma, who returned to India from the United States in 2016, claims she entrusted her savings to the bank for investment in fixed deposits, only to discover that her entire life savings had vanished.
According to Ms. Sharma, she transferred the substantial sum of ₹13.5 crore from her US bank account to ICICI Bank, with the expectation that her investment would grow to more than ₹16 crore in the ensuing years. However, she alleges that the bank manager, whom she met through a friend, engaged in deceitful practices, including providing her with fake statements and manipulating her contact details in the bank’s records to prevent withdrawal notifications.
Over a period of four years from September 2019 to December 2023, Ms. Sharma asserts that she and her husband deposited their entire life savings into the bank, anticipating significant returns. However, in January of this year, she was shocked to discover that all her funds had disappeared after being offered what she believed to be better returns by another bank official.
An ICICI Bank spokesperson confirmed that the accused manager has been suspended pending investigation. The bank has also filed a complaint with the Economic Offences Wing (EOW) of the Delhi Police. The spokesperson assured that Ms. Sharma would be reimbursed her money, along with interest, once the allegations are substantiated, though she may have to wait until the investigation is concluded.
The bank, however, expressed bewilderment at Ms. Sharma’s claims of being unaware of the transactions and balances in her account over the past three years. They maintain that transaction details were regularly sent to her registered mobile number and email address, and that notifications regarding any changes were also dispatched to her original contact details.
In response to the allegations, ICICI Bank stated, “We have communicated to the customer that we are ready to transfer the disputed amount of ₹9.27 crore (she has already encashed a fixed deposit of ₹2 crore) to her account with a lien, pending the outcome of the investigation.” The bank emphasized that they are extending full cooperation to the police investigation and are committed to uncovering the truth behind the matter, which they suggest may be more complex than initially perceived.
As the investigation unfolds, Ms. Sharma’s case stands as a stark reminder of the importance of due diligence in financial transactions and the potential risks associated with entrusting substantial sums to financial institutions.
Sources By Agencies
