Case Of the misappropriation and laundering of funds from State Bank of Sikkim by Dorjee Tshering Lepcha, former General Manager (Operations)
FinTech BizNews Service
Mumbai, March 9, 2025: Directorate of Enforcement (ED), Gangtok Sub Zonal Office has provisionally attached movable and immovable properties worth Rs. 65.46 Crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the misappropriation and laundering of funds from the State Bank of Sikkim (SBS) by Dorjee Tshering Lepcha, former General Manager (Operations), SBS.
The attached properties include 4 immovable properties comprising residential buildings and land parcels located at Deorali, Syari, Ranipool, and Penlong, Sikkim. These properties were found to have been acquired using Proceeds of Crime (POC) derived from the fraudulent siphoning of funds from SBS. In addition to immovable properties, bank balances and fixed deposits in the names of Dorjee Tshering Lepcha and his family members, totaling approximately Rs53.41 Crore have also been attached.
ED initiated investigation on the basis of FIR registered by CID-PS, Gangtok under various sections of the IPC, 1860, and the Information Technology Act, 2000. The investigation was later transferred to Sikkim Vigilance Police. ED investigation revealed that Dorjee Tshering Lepcha, while serving as General Manager (Operations) at State Bank of Sikkim orchestrated a large-scale fraud involving the creation of a fraudulent bank account in the name of "AE Roads and Bridges Department, Government of Sikkim."
Funds were fraudulently credited to this account through manipulation of General Ledger (GL) accounts maintained by SBS for Central Bank of India (CBI) and State Bank of India (SBI) transactions. These funds were subsequently diverted to personal accounts held by Dorjee Tshering Lepcha, his wife and other family members and associates. The investigation also uncovered manipulation of fixed deposits to enhance interest earnings fraudulently. Further, searches were conducted by ED on 14.02.2025 at multiple premises linked to Dorjee Tshering Lepcha. During the searches, incriminating documents related to various property purchases were seized, and approximately Rs. 75 Lakh was frozen from various bank accounts linked to Dorjee Tshering Lepcha.
Further investigation is under progress.
