The Central Bureau of Investigation (CBI) has registered a case against seven people, including officials of a private management college and a former bank manager, over an alleged ₹99.48 lakh MP scholarship fraud. Investigators claim government scholarship money meant for MBA students was diverted through fake bank accounts opened without the students’ knowledge.
What Is the MP Scholarship Fraud Case?
According to the CBI, the alleged fraud took place between 2020 and 2021 at the Academy of Management College in Bhopal.
The agency alleges that 118 bank accounts were opened in the names of MBA students using forged signatures and false documents. Government scholarship funds worth ₹99.48 lakh were then credited to these accounts and later withdrawn by
Who Has Been Booked?
The FIR names seven accused, including:
A former senior manager of UCO Bank’s Habibganj branch
Two officials of the Academy of Management College
Two assistant professors
One college employee
Another college official
The CBI has booked them on charges including criminal conspiracy, cheating, forgery and offences under the Prevention of Corruption Act.
How Was the Alleged Fraud Carried Out?
Investigators allege that the accused opened bank accounts without students’ consent by using forged KYC documents and fabricated college certificates.
The FIR also claims ATM cards were handed to a single individual instead of the genuine account holders, allowing the scholarship money to be withdrawn before students became aware of
CBI Investigation Underway
The CBI’s Anti-Corruption Branch in Bhopal is now investigating whether more people were involved and whether similar methods were used in other cases.
Officials are examining bank records, account-opening documents and scholarship disbursal records as part of the probe.
Conclusion
The alleged ₹99.48 lakh scholarship fraud has raised fresh concerns about the misuse of government welfare schemes. The CBI investigation is continuing, and further action will depend on the evidence collected during the probe.
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