Fake accounts, diverted scholarships: CBI books 6 in Rs 1-crore Bhopal scam
The Central Bureau of Investigation (CBI) has registered an FIR against six individuals, including a former senior manager of UCO Bank, in connection with an
The Central Bureau of Investigation (CBI) has registered an FIR against six individuals, including a former senior manager of UCO Bank, in connection with an alleged scholarship scam worth nearly Rs 1 crore in Madhya Pradesh's capital Bhopal. The agency has alleged that government scholarship funds meant for MBA students were fraudulently diverted through bank accounts opened without the knowledge or consent of the students. Read Full Story According to the FIR, the alleged fraud took place between January 2020 and October 2021 and involved a private management college in Bhopal and officials of UCO Bank's Habibganj branch. Investigators claim that 118 bank accounts were opened in the names of students who had never applied for scholarships.
Government scholarship funds amounting to approximately Rs 99.48 lakh were subsequently transferred into these accounts. The CBI alleges that the entire scholarship amount was siphoned off before reaching the intended beneficiaries. The probe has revealed alleged irregularities in the account-opening process, including the use of forged account opening forms, fake signatures and fabricated Know Your Customer (KYC) documents. According to investigators, the college allegedly issued bogus bonafide certificates to facilitate the opening of the accounts. The agency has further alleged that mobile numbers linked to the accounts did not belong to the students but were instead registered in the names of college officials or their associates, allowing them to receive one-time passwords (OTPs) required for banking transactions.
In another key finding, ATM cards linked to the accounts were allegedly handed over to college employee Ram Singh Verma instead of the students. Once scholarship funds were credited, the money was allegedly withdrawn immediately using ATM cards and OTP-based authentication. The CBI has accused the suspects of bypassing mandatory banking and KYC norms to execute the fraud. Those named in the FIR include former UCO Bank senior manager Prema Verma, college director Vinay Malhotra, professor Aditya Malhotra, assistant professors Manoj Jain and Vinesh Meshram, and college employee Ram Singh Verma. The agency has also named unidentified persons as accused. The case came to light following a complaint filed by Lokesh Kumar, Zonal Head and Deputy General Manager of UCO Bank's Bhopal Zone.
The CBI has registered offences related to criminal conspiracy, cheating, forgery, use of forged documents and provisions of the Prevention of Corruption Act. Investigators are now examining digital records, call detail records, CCTV footage, ATM withdrawal trails and bank transaction data to establish the flow of funds and identify additional beneficiaries. The agency is also probing whether a similar modus operandi was used in other educational institutions or bank branches. The accused have denied wrongdoing and said they would cooperate with the investigation. Officials indicated that further disclosures and possible arrests could follow as the probe progresses. Ends
The BriefWire