A case has come to light in Uttar Pradesh's Gorakhpur, in which a teacher was allegedly induced to take loans from four banks by people posing as bank employees, promising to help arrange a loan and earn profits through business. The accused allegedly facilitated loans totalling ₹72.80 lakh and then diverted most of the money.
According to the complaint, once the funds reached the teacher's account, the accused obtained the OTP sent to his mobile phone and used it to transfer most of the money to different bank accounts. Later, the alleged key accused, a woman, returned ₹9.50 lakh to the teacher's account from different accounts. A case has been registered against eight people, including the woman, and an investigation is underway.
How the Scheme Began
According to the complaint, the teacher is a resident of Vishunpura village in the Ahirauli Bazar area of Kushinagar, and is posted at a government school in Gonda. The complainant said the woman accused was a distant relative who claimed to be a bank employee and assured him she could help with banking-related work. She also suggested he purchase land in Gorakhpur. When the teacher said he was facing financial difficulties and couldn't afford the purchase, the woman allegedly referred to an RBI scheme and offered to arrange a loan for him.
The complaint alleges that the woman told the teacher she would pay the loan EMIs herself and repay the entire loan within a year, after using the money for business. The teacher allegedly believed her assurances. In October 2024, the woman took him to a finance company in Gorakhpur, where her alleged associates got several documents signed by him and completed the KYC process.
₹72.80 Lakh Sanctioned, Then Diverted
Subsequently, loans totalling ₹72.80 lakh were sanctioned by four separate banks, and the entire amount was credited to the teacher's bank account. According to the complainant, an OTP was sent to his mobile phone as soon as the money was credited. One of the woman's alleged associates is accused of obtaining this OTP and using it to facilitate transfers from the teacher's account to the bank accounts of different people. The complaint mentions the money was transferred to the accounts of five people in total.
The teacher said the woman later transferred ₹9.50 lakh back to his bank account from different accounts. Meanwhile, the combined monthly EMI liability on the four loans reached around ₹1.55 lakh. When the EMIs weren't paid, the banks began repeatedly contacting the teacher. When he approached the woman, she allegedly started avoiding him and kept delaying the payments.
Filing the Complaint
The teacher subsequently realised he had allegedly been defrauded and approached the police. On the basis of his complaint, a case has been registered at the AIIMS police station against eight accused, including the woman, under provisions related to cheating, criminal conspiracy, and other relevant offences. Police are investigating the role of each accused and the movement of the loan proceeds.
What Investigators Are Examining
According to police, the investigation is examining the process through which loans were sanctioned in the teacher's name by different banks, and identifying everyone involved. Bookkeeping services in India-style scrutiny of bank transactions made after the money was credited, the alleged use of the OTP, and the documents submitted during the loan process are also being examined, systematically reconstructing exactly how the ₹72.80 lakh moved after it hit the teacher's account.
The complainant has additionally alleged that the woman and her father cheated several people of around ₹12 crore. This broader allegation is also being investigated.
Why This Case Is a Warning to Others
Cybercrime expert and former IPS officer Prof. Triveni Singh said that anyone posing as a bank employee or financial adviser, and asking another person to obtain a loan while seeking access to an OTP or banking information, presents a serious financial risk. An OTP received on a mobile phone during any loan or banking process should never be shared with another person under any circumstances. If someone encourages a person to take a loan by promising to use the money for business or pay the EMIs themselves, the claims and proposed financial arrangement should be independently verified before proceeding.
During the investigation, police are examining bank records, mobile numbers, documents, digital records linked to OTP use, and the complete trail of fund transfers. Further action will be taken against the accused based on evidence and findings that emerge during the probe.
FAQs
Q1. How did the fraudsters allegedly gain control of the loan money?
Once the ₹72.80 lakh loan amount was credited to the teacher's account, one of the accused allegedly obtained the OTP sent to his mobile phone and used it to transfer the funds to five different bank accounts.
Q2. How much money was returned to the victim, and what remained his liability?
The key accused returned ₹9.50 lakh to the teacher, while the combined monthly EMI liability on the four sanctioned loans reached around ₹1.55 lakh.
Q3. What broader allegation emerged during this investigation?
The complainant additionally alleged that the woman and her father cheated several other people of around ₹12 crore, an allegation that is also currently under investigation.