Police have arrested five individuals involved in a Rs1.39 crore financial fraud by manipulating the cash recycling mechanism of a Bank of Baroda ATM at the Kidwai Nagar branch.
The accused are:
Deepak Jaiswal, ATM custodian employed by Hitachi
Vipin Dixit, resident of Devki Nagar
Ashish Tripathi, resident of COD Colony
Ankit, brother of Ashish
Ashish, brother of Ankit
The investigation began after Ghanshyam Omer, manager at Hitachi — the company managing ATM cash deposits — filed a complaint. CCTV footage helped identify and arrest Deepak Jaiswal, who disclosed the involvement of his four accomplices.
Police have recovered Rs38 lakh in cash and gold jewellery, including an Rs11 lakh cash stash and a gold chain allegedly bought with stolen funds. Deputy Police Commissioner Deependra Nath Chaudhary confirmed that the accused remain in police custody as investigations continue.
This case highlights vulnerabilities in insider access and stresses the need for stronger internal controls within cash-handling organizations.
