Sirsa police have arrested Tarun Bansal, the manager of Axis Bank’s Kalanwali branch, and his associate Harvinder in connection with a Rs31 lakh cyber fraud case involving a fake cryptocurrency investment scheme. The arrests followed a detailed investigation launched in January 2025, after a victim reported losing Rs31 lakh to fraudsters promising high returns through crypto trading.
According to Cybercrime ACP Priyanshu Diwan, the fraudsters had tricked the victim into transferring large sums to multiple bank accounts. The victim was shown fake profits in a virtual account, but was unable to withdraw any funds and was eventually cut off from all communication.
The investigation revealed that Harvinder, an unemployed youth from Kalanwali, had received Rs7 lakh of the defrauded amount in his Axis Bank account. He confessed that he had provided his account to cyber fraudsters through Tarun Bansal, the bank manager. Based on his confession, police arrested Bansal, who had been employed at Axis Bank for over two years.
It was further disclosed that Harvinder received a 2.5% commission from the fraudulent transactions routed through his account, while Tarun Bansal took a 5% cut. Police also seized a chequebook linked to the fraudulent account during the operation.
Both accused were produced in court and have been sent to judicial remand. The case is registered under Section 318(4) of the Bharatiya Nyaya Sanhita (BNS) for cheating and dishonestly inducing delivery of property. Authorities are continuing their investigation to trace other individuals and accounts involved in the scam.
