Fake SBI branch uncovered in Madhya Pradesh’s Chhapora; villagers duped of lakhs

The scam had lured unsuspecting villagers into opening accounts and conducting transactions while offering jobs to unemployed individuals, according to an NDTV report.

The operation came to light after Ajay Kumar Agarwal, a villager, raised suspicions about the branch’s legitimacy, leading to an investigation by the manager of the nearby Dabra branch.

The fraud was confirmed when officials discovered that the "branch" had no official authorization, and the employees had been hired using counterfeit documents.

Four people, including Rekha Sahu, Mandir Das, and Pankaj—who posed as the branch manager—have been identified as the main accused in the scam.

These fraudsters had collected fees ranging from Rs 2 lakh to Rs 6 lakh from job seekers in exchange for fake employment offers.

The bogus bank was set up in a rented complex, complete with signage and furniture to create the appearance of a legitimate institution.

It targeted unemployed individuals from several districts, including Korba, Balod, and Sakti, with promises of well-paying jobs and salaries as high as Rs 35,000 per month.

Many villagers were excited about the prospect of having a local bank, and some had even planned to take out loans.

However, the scheme unravelled before any large-scale financial losses could occur, thanks to the vigilance of concerned locals.

Now, the victims face financial and legal hardships, having mortgaged jewellery or taken out loans to secure their fraudulent appointments. The police are continuing their investigation into the scam.