Raipur, India: Investigators have filed a chargesheet against a bank manager accused of embezzling millions of rupees from a government account in the central Indian state of Chhattisgarh. The Economic Offences Wing (EOW) of the state’s Anti-Corruption Bureau has submitted a 1,290-page chargesheet against the main accused, Vijay Kumar Ahke, in a court in Raipur.
The accused, who worked as a branch manager at a specialized administrative branch of State Bank of India located in the city’s Byron Bazaar area, is currently lodged in Raipur Central Jail.
Alleged Misuse of Position
According to investigators from the Economic Offences Wing, Ahke allegedly misused his authority as branch manager to siphon off government funds between August 28, 2024, and June 11, 2025.
Officials say he created fraudulent vouchers through the bank’s computer system and diverted money from the branch’s Branch General Ledger (BGL) account, causing a financial loss of ₹27.8 million (about $330,000).
How the Fraud Was Carried Out
Investigators claim the accused used a batch-mode banking system and kept each transfer below ₹500,000 to avoid triggering the bank’s high-value transaction alert system.
The chargesheet states that older entries in the BGL account were rolled over into new entries within 30 days, allegedly to conceal the real financial position from supervising authorities.
Authorities say the accused carried out 75 separate transactions, transferring the money into a bank account held in his wife’s name. The account was linked to his own mobile number, allowing him to receive one-time passwords (OTPs) needed to authorize the transfers.
Funds Allegedly Invested in Crypto and Trading
After the money was transferred, investigators say Ahke moved the funds through online banking into his personal accounts and invested them in cryptocurrency platforms and commodity options trading, including activities on the Delta Exchange.
Arrest and Legal Action
The accused was arrested under multiple sections of India’s criminal law, including provisions of the Bharatiya Nyaya Sanhita and the Prevention of Corruption Act, 1988.
Investigators said the case is based on digital evidence, seized documents, bank statements, and transaction records obtained from the bank’s central servers.
Authorities stated that further legal proceedings will continue in court as the investigation progresses.