Bhopal Scholarship Scam: College Director, Professors, Bank Officials Booked
CBI has registered two major fraud cases in Madhya Pradesh involving scholarship theft through fake bank accounts and cheating the New India Insurance Company Ltd. Read the article to know more details.
The Central Bureau of Investigation has registered two serious fraud cases in Madhya Pradesh. One case is linked to the misuse of government scholarship money meant for MBA students in Bhopal. The second is related to fake motor insurance claims that caused a loss of more than Rs 4 crore. Both cases point to planned cheating by private persons along with possible help from insiders. The allegations show how public money and insurance funds can be misused when rules are ignored and manipulated. Read the article to know more details.
Scholarship Money Allegedly Stolen Through Fake Student Bank Accounts
CBI has booked seven people including the officials of the Academy of Management College Bhopal and UCO Bank. The accused include Senior Branch Manager Prema Verma college director Vinay Malhotra, his brother Aditya Malhotra, assistant professor Manoj Jain and Vinesh Meshram and college employee Ram Singh Verma. According to the FIR 118 savings accounts were opened in the names of MBA students without their knowledge or consent during 2020 and 2021. Around Rs 99.48 lakh in government scholarship money was then sent into these accounts and was allegedly taken away illegally.
The agency said the accounts were opened with forged signatures and false details. It also alleged that proper KYC checks were not done. Bonafide certificates used to support the account opening were later found to be fake. ATM or debit cards linked to these accounts were allegedly handed over to Ram Singh without written permission from the real students. Mobile numbers of college officials and their associates were also linked to the accounts so they could receive OTPs and withdraw the money on the same day it was credited.
CBI Also Uncovers Fake Insurance Claims
In a separate case the CBI booked three private persons from Gwalior named Avdesh Parmar, Shailedar Singh Parmar and Manraj Prajapati. They were accused of cheating the New India Insurance Company Ltd. Bhopal through fake motor own damage claims filed between 2021 and 2024. The agency said claims worth Rs 4.30 crore were wrongly processed for the same vehicles with the help of vehicle owners, drivers, garage owners, surveyors, spare part sellers and unknown public servants. The FIR says the same photos and damaged parts were used again in multiple claims. In some cases the repair photos belonged to one garage while the bills came from another garage. This raised serious doubts about the authenticity of the documents. The CBI also alleged that claim money was sent to bank accounts other than those of the insured by using forged cheque leaves. Both cases are now under investigation and may reveal a wider network of fraud.
Faham is an education specialist and has over three years of experience in the education and edtech industry, specializing in digital and educational content creation. He holds an MBA in Marketing and Human Resources from Swami Vivekanand University. Throughout his career, Faham has developed expertise in creating engaging and informative content across diverse educational domains.
In addition to his edtech experience, he worked for two years as a Public Speaking and Creative Writing Expert, helping learners enhance their communication and writing skills. He has also been associated with Testbook and Adda Education as a Content Writer, where he created high-quality content for K–12 education, Management Entrance Examinations, UPSC, Law, and State Defence examinations. His strong understanding of educational content and exam preparation enables him to simplify complex topics and deliver valuable learning resources to students.
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