CBI Launches Full Probe into Rs 6.95 Crore Lucknow Bank Fraud
The Central Bureau of Investigation has registered a formal FIR and initiated a comprehensive investigation into a major financial fraud case. This case involves a staggering Rs 6.95 crore siphoned from public funds through the Bank of India and the Uttar Pradesh Forest Corporation. The agency discovered that criminals used forged documents and impersonation tactics to execute this elaborate scheme.
Fraud Unfolds at Bank of India's Sadar Branch
The case centers on the Sadar Branch of Bank of India in Lucknow. Investigators revealed that someone opened a fake savings bank account there in the name of the UP Forest Corporation. CBI sources confirmed they have started searches at multiple locations connected to the accused individuals and beneficiary entities as part of their active investigation.
This entire matter came to light through a written complaint dated January 13, 2026. Anwar Jamal, the deputy zonal manager of Bank of India, submitted this complaint based on information provided by Sher Singh Kushwaha. Kushwaha serves as the branch manager of the Sadar Branch where the fraudulent activities occurred.
How the Accused Executed the Fraud
CBI officials explained the fraudsters' methodology in detail. First, they convinced bank officials that the UP Forest Corporation planned to conduct a bulk fixed deposit auction. They presented Deepak Sanjeev Suvarna as an authorized representative empowered to open and operate a bank account on behalf of the corporation.
To support this false claim, the accused submitted multiple forged documents. These included fabricated KYC documents, a fake PAN card copy of UPFC, a forged GST registration certificate, and a counterfeit board resolution dated December 19, 2025. This resolution supposedly authorized Deepak Sanjeev Suvarna to open and operate the account.
Relying on these deceptive documents, the bank opened a Savings Bank Account in the name of "UP Forest Corporation" on December 22, 2025. Investigators now believe the account was created solely to facilitate the fraud scheme. On December 26, 2025, Deepak Sanjeev Suvarna personally visited the branch. He collected a cheque book containing twenty-five leaves against proper acknowledgement in the cheque issue register.
Massive Funds Credited and Siphoned
On January 1, 2026, an enormous amount of Rs 64.82 crore was credited to the official account of the bank. This transaction came with a confirmatory email from UPFC's official email address (cao@upfc.in). The email requested creation of a fixed deposit receipt worth Rs 64.82 crore in favor of the managing director of UP Forest Corporation for one year.
However, the very next day brought another development. Deepak Sanjeev Suvarna allegedly submitted another forged letter. This document requested issuance of two separate FDRs—one for Rs 6.82 crore and another for Rs 58 crore. He also asked that the FDR certificate be handed directly to him. Additionally, he submitted a form to change the registered mobile number of the account to a number under his personal control.
After these changes were implemented, Deepak Sanjeev Suvarna fraudulently transferred Rs 6.95 crore through RTGS to six different beneficiary accounts. These transfers occurred between January 2 and January 5. The beneficiary accounts were located in Kolkata and New Delhi.
Beneficiary Firms Under Investigation
CBI officials identified several beneficiary entities now under scrutiny. These firms include:
- World Foods Group
- Maple Crest Life Sciences
- Steel Mart India
- Save Tecno Infracon and Engineers
- Ankraj Nirman Pvt. Ltd.
- All Dream Destination Pvt. Ltd.
These companies collectively received the entire Rs 6.95 crore through RTGS requests submitted by the accused. The fraud finally came to light on January 5 when actual officers of the UP Forest Corporation approached the bank. They wanted to know the status of their fixed deposit and informed bank officials that no employee named Deepak Sanjeev Suvarna existed in their corporation. The UPFC clarified they had never authorized him nor opened any such savings account.
Case Registered and Probe Underway
Based on the formal complaint, the CBI found prima facie evidence of multiple offences. These include violations under Section 61(2) read with sections of BNS 204 (personating as public servant), 316 (breach of trust), 318 (cheating), 336 (forgery), and 340 (dishonestly using forged document). The case also involves sections 13(2) read with 13(1)(a) of the Prevention of Corruption Act, 1988, as amended in 2018.
The CBI has filed the case against several parties:
- Anees alias Manish
- Deepak Sanjeev Suvarna
- Unknown public servants of Bank of India, Sadar Branch
- Unknown officials of UP Forest Corporation
- Other unidentified persons
CBI sources confirmed they conducted searches at premises of the accused in Delhi and the National Capital Region. The investigation continues actively while the accused remain on the run from authorities.
