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10 Biggest Bank Frauds Of India & The Fraudsters Behind Them

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Last 10 years lo India lo Bank Fraud Cases chala jarugutunnayi. 2012 lo Maharashtra Bank Rs 836 crores expose aithe…aa taruvatha chala bank frauds, scams and banks ni munchesina Scamsters count perugthune undi. Vijay Mallya, Noirav Modi la whopping bank frauds inka clear kakamundhe ippudu Rishi Agarwal of ABG Shipyard Limited Rs 22,842 Crores of bank fraud case okati limelight loki occhindi.

Tappudu assets chupinchi banks nundi huge loans tisukoni katte time ki kondaru Industrialists, business tycoons chethulu ettesaru. Mallya lanti vallu aithe country odilesi ekkadiko paarar aiyyaru. Ila last few years lo jarigina scams valla Indian Economy chala negative impact untundi.

Last one decade lo Biggest Bank Fraud Cases In India and amounts chusthe…

1. Bank of Maharashtra scam of Rs 836 crore By Padmakar Deshpande & others – 2012-2014

Padmakar Deshpande bank officer sanctioned various credit facilities to Siddhi Vinayak Logistics Limited’s drivers without their knowledge.

2. ICICI Videocon scam of Rs 1,875 crore by ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar

ICICI Bank CEO Chanda Kochhar and Videocon group MD Venugopal were accused of causing irregularities in loans sanctioned by the ICICI bank to the group in 2012.

3. Syndicate Bank Scam of Rs 1,000 crore by SK Gupta (Chief Manager of Syndicate Bank

SK Gupta & 9 others opened 386 accounts in 3 branches of Syndicate Bank in Rajasthan and “defrauded” Rs 1,000 crore using fake cheques.

4. Rotomac Pens scam of Rs 3,695 crore Rotomac Pens Chief Vikram Kothari

Vikram Kothari, the promoter of Rotomac was accused of cheating seven banks of Rs 3,695 crore. The CBI arrested Vikram for the alleged charges.

5. PMC Bank scam of Rs 4,355 crore by HDIL (Housing Development and Infrastructure Limited) director Rakesh Wadhawan

In 2019 RBI discovered that PMC Bank had allegedly created fictitious accounts to hide over Rs 4,355 crore of loans extended to HDIL.

6. Bank of Baroda foreign exchange scam of Rs 6,000 crore by Kamal Kalra, Chandan Bhatia, Gurucharan Singh Dhawan and Sanjay Aggarwal

Few private banks and chief staff were involved in this scam in which scamsters transferred money to Hong Kong claiming that to be advance payments to vendors.

7. Bribe for Loan scam of Rs 8,000 crore By Chartered Accountant Pawan Bansal & Staff of Multiple Banks

Multiple banks, including UCO Bank, Bank of Maharashtra and Canara Bank provided loans to few large public sectors in favor of bribes dealt by Chartered Accountant Pawan Bansal & Staff of Multiple Banks.

8. Kingfisher scam of Rs 10,000 crore By Vijay Mallya CEO Of United Breweries

Mallya took majority of loans from SBI and 11 other banks of Rs 10,000 Cr after his Kingfisher Airlines saw losses in 2013.

9. PNB scam of Rs 14,000 crore By Nirav Modi owner of Nirav Modi chain of diamond jewellery retail stores.

Diamond trader Nirav Modi, his uncle Mehul Choksi took loans worth 14,000 crore from Punjab Bank providing fraud assets, business.

10. ABG Shipyard scam of Rs 22,842 crore By Rishi Agarwal

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