Raipur
The Supela police arrested a relationship manager of HDFC Bank for defrauding investors of lakhs of rupees after promising 10 per cent monthly returns on Gold ETF investments.
The arrested accused has been identified as Rajkumar Tiwari, 37, a resident of LIG Quarter No. 11/3, Nehru Nagar East, Bhilai.
Police said the action followed a written complaint filed by Raju Namdeo, a resident of Sector 07, Bhilai. In his complaint, Namdeo stated that the prime accused Yogesh Sahu, along with Tiwari and other associates, convinced him to invest money by showing bank statements of other clients to build credibility.
Relying on their promises, the complainant transferred ₹15 lakh on 21 March 2025 to the bank account specified by the accused. The fraudsters initially transferred monthly returns to Namdeo’s account to win his confidence, but stopped payments after a few months and offered false assurances when asked to return the principal amount. Namdeo later discovered that several other investors had been cheated in a similar manner.
During the investigation, the police recorded statements of the victim and other affected investors, including Mohammad Rafi, Sadhna Mishra, and Shiba Sheikh. Financial documents and transaction details were also examined.
Investigations revealed that Tiwari used his position at HDFC Bank to access details of high-value account holders. He then targeted these individuals, luring them to invest in Gold ETFs with promises of high returns. Tiwari collected cheques from investors, deposited them into the account of the main accused Yogesh Sahu, and paid the initial returns from his own account to keep investors unsuspecting.
Based on the evidence gathered, the Supela police registered a case under sections 318(2), 318(4), 61(2), and 111(4) of the Bharatiya Nyaya Sanhita (BNS). Police detained Tiwari, recorded his memorandum statement in the presence of witnesses, and formally arrested him. He has been remanded in judicial custody.
The operation was conducted by a police team comprising Supela station house officer S.N. Singh, sub-inspector Dhaneshwar Sahu, and constables Kamal Sahu and Pradeep Singh.
Durg Police have advised citizens to verify the credentials of investment schemes and financial entities before depositing funds. Citizens should remain cautious of schemes promising unusually high or guaranteed returns and immediately report suspicious financial offers or bank account transactions to the police.
