The Economic Offences Wing (EOW) of Nagpur Police on Monday arrested another ICICI Bank branch manager, Dinesh Krishnarao Nagpure, a resident of Shesh Nagar, in connection with the Rs 23 crore fake gold loan scam. A court remanded him to five days of police custody for questioning. According to EOW officials, Nagpure is suspected to have played an important role in the scam in which fake gold ornaments were pledged to obtain loans from ICICI Bank branches in Nagpur. During the investigation, it emerged that he had served as the branch manager at both the Manish Nagar and Ajni Square branches. Police suspect that a large number of the disputed gold loans were sanctioned during his tenure. The fraud first came to light during a routine audit at the bank’s Manish Nagar branch, where several ornaments pledged against gold loans were found to be counterfeit.

 

A detailed audit that followed uncovered irregularities in 159 gold loan accounts across nine ICICI Bank branches. Investigators found that loans worth more than Rs 23 crore had been sanctioned against fake ornaments between January 2023 and October 2025. Police believe the fraud was carried out in collusion with bank officials, gold valuers, auditors and several account holders. Fake ornaments were allegedly certified as genuine, allowing borrowers to secure loans and causing substantial losses to the bank.

 

Earlier, the EOW had arrested ICICI Bank Branch Manager Pankaj Kekatpure, bank-appointed gold valuer Nandu Kharwade, and auditors Rajendra Shilankar and Pramod Tete. With Nagpure’s arrest, the number of arrests in the case has gone up further. The case was registered at Dhantoli Police Station on the complaint of Dhananjay Ramesh Thite, Zonal Head of ICICI Bank’s Nagpur Zone. The investigation is being carried out under the guidance of DCP (Detection) Deepak Agrawal, while API Santosh Tokalwad and the EOW team carried out the arrest.