A man entrusted with one of the most sensitive roles in banking — approving government-linked loans for ordinary people — has been arrested for allegedly turning that trust into a Rs 4 crore con job. And the deeper investigators dig, the worse it gets.
The Man, The Position, The Betrayal
Capital Police have arrested Vivoto V. Zimo, former Branch Manager of the Central Bank of India, Ganga Branch, from Dimapur, Nagaland, for allegedly masterminding a financial fraud exceeding Rs 4 crore involving beneficiaries of government subsidy schemes in Arunachal Pradesh. What began as a single complaint quickly unravelled into something far more disturbing — a calculated, systematic operation targeting some of the most financially vulnerable people in the region.
How It Started — And How Big It Got
The case was registered on July 9 after a complainant alleged that Zimo had cheated him of Rs 2.5 lakh of his own money and Rs 2 lakh in government subsidy sanctioned under the Atmanirbhar Pashupalan Yojana (ANPPY). That first complaint was just the tip of the iceberg. During the probe, police found that the complaint was part of a much larger fraud. So far, investigators have identified 18 victims, with the alleged amount siphoned off estimated at Rs 3,23,70,000 under the ANPPY and the Deen Dayal Upadhyaya Swavalamban Yojana (DDUSY). Two additional fraud cases — one involving Rs 1 crore and another of Rs 35 lakh — have also surfaced. The numbers keep climbing.
The Trick: Blank Slips and Blind Trust
This wasn’t a smash-and-grab. It was methodical. Police said the accused allegedly forced beneficiaries to deposit amounts far higher than the prescribed margin money, created fixed deposits in their names, and sanctioned loans against those deposits. He then allegedly obtained pre-signed withdrawal slips and other banking documents under the pretext of loan processing. Once the subsidies and loan amounts landed in accounts, the accused allegedly used those signed withdrawal slips to withdraw the money without the account holders’ knowledge or consent. These were farmers and small entrepreneurs trusting a bank official with their paperwork — and allegedly getting robbed for it.
Where Did the Money Go?
The investigation further revealed that the withdrawn funds were routed through multiple mule bank accounts before being transferred to two accounts operated by the accused. Police alleged that the money was subsequently invested in cryptocurrency trading and the stock market, where substantial losses were incurred. Investigators also found that more than Rs 50 lakh had allegedly been advanced as private loans on interest. So the stolen money didn’t just disappear — it was gambled, lent out, and laundered through a web designed to make it nearly impossible to trace.
A Warning to the Public
Zimo was arrested in Dimapur on July 15 after police tracked his location. Superintendent of Police Jummar Basar urged beneficiaries of government loan and subsidy schemes to carefully read official guidelines before signing any banking documents or depositing money. He advised the public never to sign blank withdrawal slips or financial instruments and appealed to anyone who may have been cheated by the former bank manager to approach Itanagar Police Station with relevant documents as the investigation progresses.
The investigation continues — and if the pattern holds, eighteen victims may just be the beginning. When a person in a position of financial authority allegedly preys on those seeking government help to build a better life, it’s not just fraud. It’s a betrayal of the state’s promise to its own people.
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