CBI Cracks ₹43-Crore Loan Fraud, Arrests Three Accused in Bihar’s Banka

Banka (Bihar): In a major breakthrough in a high-value financial fraud case, the Central Bureau of Investigation (CBI) has arrested the prime accused along with two associates from Bihar’s Banka district in connection with a ₹43-crore loan scam. The arrests have sent shockwaves across the region, highlighting the scale and audacity of the alleged fraud.

A special CBI team from Delhi, assisted by the local police, conducted a late-evening raid on Thursday at a hotel in the Rajoun police station area. All three accused were taken into custody and later flown to Delhi for further investigation.

Prime Accused on the Run Since 2015

The main accused has been identified as Amit Kumar Singh alias Rakesh Kumar, a resident of Naya Tola in the Navgachhia police station area of Bhagalpur district. According to the CBI, a cheating case was registered against him in Delhi on January 23, 2015. Since then, he had been absconding, frequently changing locations to evade arrest.

Acting on specific intelligence that Amit Kumar Singh had been staying at a hotel in Rajoun market for the past two days, the CBI team swiftly moved in and carried out the raid with support from the local police.

Fake Officials, Big Promises

CBI investigations have revealed that the accused, along with his associates—including one Syed Meraj—allegedly posed as officials of the Reserve Bank of India (RBI), the CBI, and even the British Police Force. Using emails and false credentials, they promised to facilitate a massive loan of approximately ₹43 crore.

The victim, identified as Ivy Sadanandan, a resident of Thiruvananthapuram, Kerala, was allegedly duped of ₹3.46 lakh as “processing fees” and other charges under this false pretext.

Declared Proclaimed Offender

Due to repeated failure to appear before the court, the Court of the ACMM, RADC, New Delhi, had earlier declared Amit Kumar Singh a proclaimed offender. The CBI had been actively tracking him since then, culminating in his arrest on December 25, 2025.

Banka Superintendent of Police Upendranath Verma confirmed the arrests, stating that the operation was carried out smoothly with full coordination between the CBI and local police officials.

Investigation Ongoing

While confirming the arrests, the CBI has refrained from sharing further details, citing the ongoing nature of the investigation. Officials indicated that more revelations are expected as the accused are questioned in custody.

The case once again underscores how organized fraud networks exploit trust by impersonating top institutions, and how long-term investigative efforts can eventually bring fugitives to justice—even after a decade on the run.