The Chhattisgarh Anti-Corruption Bureau/Economic Offences Wing (ACB/EOW) has arrested Vijay Kumar Aakhe, chief manager at SBI’s SCAB branch in Raipur, for allegedly siphoning over Rs2.78 crore from a bank account and diverting the funds into cryptocurrency, options, and commodity trading.
The case was registered on December 17, 2025, following a complaint from SBI’s regional office in Raipur. Aakhe, responsible for cash management and supply to other branches, reportedly misused a “suspense account” with no fixed upper limit, treating it like a blank cheque. Over eight months, he allegedly made fake entries and unauthorized transfers, moving Rs2,78,25,491 into his and his wife’s accounts.
ACB/EOW chief Amresh Mishra stated that Aakhe bypassed the bank’s Red Flag Indicator (RFI) system by rolling over amounts through multiple fake entries before alerts were triggered. Investigators noted that the number of such entries increased over time to conceal the fraud.
Searches at Aakhe’s residence yielded documents and electronic evidence. Officials claim the misappropriated funds were invested using trading platforms such as the Dhann app and Delta Exchange.
Aakhe has been booked under sections of the Bharatiya Nyaya Sanhita and the Prevention of Corruption Act. He was arrested on December 18, 2025, and produced before the court. Investigations are ongoing to identify any other officials involved or supervisory lapses that allowed the fraud to continue for months.
