Small savers trusted the post office with their money. That trust, investigators now allege, was systematically betrayed.
The Central Bureau of Investigation has registered a case against 12 postal officials and associates after Rs 2.81 crore deposited by small investors under Post Office Savings Bank (POSB) accounts in Bharuch division allegedly never reached their intended accounts.
Instead, the money was reportedly rerouted through employees’ own internal postal savings accounts and then moved out digitally.
The alleged fraud took place between August 2024 and December 2025 at the ONGC Colony sub-post office in Bharuch.
The FIR, registered by CBI Gandhinagar, names sub-postmasters, postal assistants, postmen and multi-tasking staff.
The main accused is Yasin Ghanchi, who was serving as sub-postmaster at the time. He allegedly received deposits from customers through authorised agents and diverted the funds using internal postal accounts.
According to the complaint filed by the superintendent of post offices, Bharuch division, 56 POSB accounts, largely under the time deposit scheme, were affected.
The FIR states that amounts deposited by investors were not credited into their designated government accounts.
Instead, the deposits were made into POSB accounts of departmental officials and thereafter transferred through digital modes to accounts linked with the accused.
The mechanics of the alleged fraud were deliberate and layered.
Entries were made in the Finacle core banking system to show money had reached investors’ accounts while the actual funds were routed elsewhere within the postal banking network.
Passbooks were issued to depositors even though corresponding balances were never secured in the intended accounts. Cheques received from customers were allegedly encashed and the proceeds diverted.
Deposits collected through agents were sometimes accepted without issuing prescribed receipts. The diverted sums were first credited to POSB accounts of colleagues, then transferred via UPI platforms, including Google Pay, to accounts linked to the main accused.
One joint POSB account cited in the FIR allegedly received over Rs 15 lakh before further transfers were made. Supervisor credentials were used to authorise some of the transactions under scrutiny.
The irregularities surfaced after an internal alert in December 2025 flagged certain transactions. A preliminary verification found mismatches between passbook entries and balances reflected in core banking data.
The case has been registered under relevant provisions of the Bharatiya Nyaya Sanhita and the Prevention of Corruption Act. Prior approval under Section 17A of the Act was obtained before proceeding against the serving officials.
The CBI has said its investigation will examine transaction trails within POSB accounts, digital transfer records, and the individual role of each accused in allowing their accounts to be used for routing funds.
Investigators are also looking at whether additional accounts within the postal system were involved and whether the total diversion exceeds the Rs 2.81 crore cited in the FIR.
Also Read: Gujarat ACB Forms SIT To Probe Surendranagar CLU Scam After ED Arrests Former Collector https://www.vibesofindia.com/gujarat-acb-forms-sit-to-probe-surendranagar-clu-scam-after-ed-arrests-former-collector/
