Bank Manager Arrested in ₹3.55 Crore Loan Fraud Case, Flashes Victory Sign at Police Station

The Accused
The manager, identified as Bhupesh Purohit, was taken into custody along with an agent, Mayur Panchal, for their alleged roles in the financial scam. Police say Purohit was the key figure behind the fraudulent loan approvals, which involved the use of forged documents.

How the Fraud Worked
According to investigators, loans were sanctioned in the names of 21 fake borrowers, with the help of forged papers. In total, 35 individuals are believed to be linked to the case, including borrowers, guarantors, and middlemen. Out of these, 18 people have already been arrested.

Authorities revealed that Purohit personally benefitted from the scheme, pocketing an estimated ₹38 lakh as commission, calculated at about 12 per cent of the loan amounts disbursed.

Police Investigation
The Santrampur police have been carrying out an extensive investigation to trace all those involved. Efforts are on to identify whether more beneficiaries or insiders were part of the fraud network. The scale of the scam has raised concerns about internal checks and the misuse of banking systems.

The Public Gesture
What drew the most attention, however, was Purohit’s attitude after his arrest. Instead of showing remorse, he appeared confident and even celebratory. While being moved between police offices, he looked directly at waiting media cameras and raised a “V” sign – traditionally used to signal victory – surprising journalists and bystanders alike.

Larger Concerns
The case highlights growing worries about loan frauds in smaller towns and semi-urban branches where oversight may be weaker. Experts point out that such scams not only damage a bank’s reputation but also undermine public trust in financial institutions.

Police have confirmed that the investigation is ongoing and further arrests are likely.