SBIN

Fake SBI Email Domain & Telegram Disappearing Messages Used in ₹68 Crore Fake Bank Guarantee Scam

Key Points Fraud Setup Using Fake SBI Domain Scammers created a fake email domain “***** which closely resembled the genuine “***** to mislead officials and pass off forged communications as legitimate State Bank of India emails. Fabricated Bank Guarantee A forged ₹68.2 crore bank guarantee was made to look like it was issued on behalf of a Reliance Group company and submitted to the Solar Energy Corporation of India (SECI). Shell Company Involvement The fraud was carried out through Biswal Tradelink, a Bhubaneswar-based shell entity with no genuine business operations, set up only to route suspicious transactions. Multiple Undisclosed Accounts Around seven hidden bank accounts were unearthed, which were used for disproportionate financial dealings, far beyond the company’s declared turnover. Telegram & Disappearing Messages The perpetrators relied on Telegram, using disappearing messages to erase digital traces and coordinate the fraud secretly. Enforcement Directorate (ED) Action The ED raided offices in Bhubaneswar and Kolkata, arrested Partha Sarathi Biswal (MD of Biswal Tradelink), and seized records for further investigation. Connection to Reliance Group Entities The forged guarantees were linked to Reliance Group affiliates. Reliance itself flagged the fraud to authorities and stock exchanges. Money Laundering Probe The case is under investigation for money laundering under the Prevention of Money Laundering Act (PMLA), as funds from the fraud were moved through multiple accounts. Wider Network Across States Though originating in Odisha, the fraud spread its network into Mumbai, Kolkata, and other states, showing a pan-India footprint. Timeline of Discovery The fraud came to light in late 2024 through a complaint, and ED action followed with raids and arrests in 2025.