Rs 1,58 crore fraud exhibited at Kolhan University, 3 arrested

In a major discovery, the Police in Chaibasa discovered a massive fraud that involves the misappropriation of $ 1,58,96,800 (1 Crore 58 Lakh 96 thousand 800) from the Chaibasa Branch of Kolhan. The fraudulent transactions were carried out by the unauthorized withdrawal of the funds from the University’s bank account by criminals who use false documents.

Following the revelation, an official application was filed at the Muffasil Police Section in Chaibasa, which led to the registration of the case no. 25/2025 of 19-02-2025 in several sections of the Indian Criminal Code (IPC), including 316 (2 (2), 318 (4), 338, 336 (3), 340 (2), 341 (1) and 61 (1) According to the state of Jharkhand act, 2023.

In view of the severity and complexity of the case, the superintendent of the police (SP), Chaibasa, PS Bhume, constituted a special investigations team (site) under the leader of the Inspector Parul Ranka, the deputy of the superintendent of the police (operation), Chaibasa and Superintendent Police Assistant ( headquarters) Fufkli Raya. SIT actively investigates the case for identifying and withholding the accused involved.

During the investigation, the police teams carried out several raids in different locations, including Odisha, West Bengal, Chhattisgarh and Bokaro, Ranchi and Godda districts. As a result of these operations, three accused were arrested, and the following articles were confiscated: 14,80,000 lei in cash, five mobile phones, an ATM card and 73 bank checks.

The investigation has revealed that about $ 93 Lakh in the depicted amount has been frozen by the debit and is now reimbursed in the applicant’s account. The police also initiated contact with various banks in the state and outside the state to follow the remaining amount.

The arrested persons have confessed their involvement in the crime and are presented in judicial arrest. Their name are the following: Kunal Kumar (35 years old), resident in Ekudpur, Chatra, Bokaro, Jharkhand. Lalit Kumar (35 years old), associated with ESAF Bank, Ranchi, Jhakhand. Amrita Sharma (26 years old), employee of Da Bank, Chandankyari, Bokaro, Jharkhand.

The Chaibasa police continue their investigation to make other suspects involved in the rocket. The police appealed to the public to report any suspicious activities related to bank fraud.