37 Bank Accounts Opened Using Laborers' PAN and Aadhaar; Bank Managers Involved in ₹7.3 Crore Fraud

A case has emerged in Delhi involving the opening of bank accounts using the documents of daily-wage laborers. The police are currently investigating suspicious transactions totaling ₹7.3 crore. Here are the details of the case.

If you have ever opened a bank account or taken out a loan, you are likely aware that certain essential documents—such as an Aadhaar card and a PAN card—are required. Now, imagine providing your documents to someone for the purpose of obtaining a loan, only to find them being used for cyber fraud. Naturally, this could lead to significant trouble.

One such incident has come to light in Delhi, where daily-wage laborers were promised loans, only for their documents to be used to open bank accounts. Shockingly, the police are investigating cybercrime cases linked to these accounts, involving transactions worth approximately ₹7.3 crore.

What was discovered during the investigation?

During the investigation, the police recovered a large number of documents, including:

60 PAN cards
63 Aadhaar cards
11 SIM cards
7 debit cards
7 checkbooks
55 passport-sized photographs

The scheme began under the pretext of providing loans.

The police investigated accounts linked to a private bank's Tri Nagar branch. The investigation has implicated an individual named Mayank Kooper. It is alleged that he would lure daily-wage laborers with the promise of a loan, collecting their identity documents and photographs in the process.

What else was found?

Beyond just documents, the police also recovered seven mobile phones, ₹60,000 in cash, 150 grams of gold, and a laptop. Between whom did the financial transactions take place?

Using the items discovered during the investigation, the police are now attempting to determine how the suspicious bank accounts were utilized and between which individuals the financial transactions occurred. In the course of the investigation, the police identified approximately 37 such bank accounts, which are reportedly linked to 99 cybercrime complaints filed across the country. This raises the question: what is this case connected to, and how did it all begin?

What was the individual doing with the documents?

Bank accounts were opened using the documents of laborers without their knowledge or consent. However, it is not yet clear exactly how many accounts were opened using the documents collected by this individual.

How was the arrest made?

The police arrested Mayank in the Baba Haridas Nagar area. He was apprehended based on leads obtained from phone numbers and electronic devices. Significantly, the investigation revealed that some of the account holders had never even visited the bank branch; furthermore, the addresses provided for them were found to be incorrect. Subsequently, the police uncovered 17 additional suspicious accounts.

Arrests made by the police

The police have arrested six individuals in connection with the case, including Mayank Kapoor and Shobhit Agarwal. The police are currently searching for the manager of the Tri Nagar branch.

Who facilitated the opening of the bank accounts?

A crucial question is: who assisted in opening these bank accounts? According to the police, Shobhit Agarwal, the manager of the Saraswati Vihar branch, is accused of facilitating the opening of accounts in the absence of the account holders and forging their signatures. Moreover, he is also alleged to have introduced Mayank Kapoor to the manager of the Tri Nagar branch.

What happened to the money?

It should be noted that the police suspect the funds generated from these transactions were shared with bank officials. Meanwhile, the remaining amount was converted into USDT via Trust Wallet. The investigation into this matter is still ongoing.

Steps to take before providing documents for a loan:

First, verify whether the company or individual to whom you are providing documents for a loan is legitimate or fraudulent.
Additionally, confirm the purpose for which your Aadhaar card, PAN card, or other documents are being requested.
You may also write the date and the specific purpose (i.e., "for loan application") on your documents to prevent them from being misused for other purposes.
Do not share your personal information with any unknown individual.