In a shocking case of financial fraud, Khirod Kumar Nayak, a relationship manager at a private bank in Cuttack, Odisha, was arrested for allegedly siphoning off Rs2.3 crore from an elderly client’s account. The accused, 39, who worked at the Badambadi branch of Axis Bank, is said to have tampered with the victim’s registered details to carry out the fraudulent transfers covertly.
According to the Crime Branch, Nayak took advantage of the elderly client’s unfamiliarity with banking procedures, offering to assist her with financial matters. Under the pretense of helping her invest in a fixed deposit for better returns, he repeatedly obtained her signature and used it to conduct fraudulent activities.
The fraud was uncovered when the bank noticed a large withdrawal and alerted the victim. An investigation revealed that Nayak had made a total withdrawal of Rs2.3 crore from the account. It was discovered that he had also changed the registered mobile number associated with the account, preventing the client from receiving any SMS alerts regarding the transactions.
Following a formal complaint, Nayak was apprehended, and a thorough search led to the seizure of 32 ATM cards, two mobile phones, and a laptop. These items were believed to be linked to his fraudulent activities.
The authorities have initiated further investigations to uncover the full extent of the fraud and identify if others were involved in the scam.