CBI registers a fresh case in Syndicate Bank fraud in Jaipur and Udaipur
Raids conducted at four places in Rajasthan
Jaipur: The Central Bureau of Investigation on Saturday registered one more case of fraud against two then additional general managers of Syndicate Bank, two then chief managers and six private persons including a CA and a builder. The case registered on a complaint by Syndicate Bank administration is related to a fraud in its two branches at Jaipur and one at Udaipur. An alleged loss of Rs 209 crore was caused to the bank.
This is second case registered in connection with fraud committed in connivance with bank officials within the past about one year. Earlier, the CBI registered a case in March last year and then filed a chargesheet in June, 2016.
In the latest case, it has been alleged that the accused in criminal conspiracy with each other availed home loans/ credit facilities from Jaipur and Udaipur branches of Syndicate Bank on the basis of forged and fabricated documents. The funds so disbursed by Syndicate Bank were diverted and fraudulently siphoned off to the companies owned by accused persons, thereby causing an alleged loss to the bank.
Raids were conducted on Saturday at four places including Jaipur, Ajmer at the residence and official premises of accused persons. Two accused are still in judicial custody after being arrested in the previous case and other one accused is on bail on medical grounds.
Further investigation is continuing, a CBI spokesperson said.
The case was registered under sections 420, 467, 468, 471, 120B of IPC and various sections of the Prevention of Corruption Act.
As per allegations in the previous case, accused persons in connivance with the bank officials committed the fraud by resorting to discounting of fake cheques, fake bills against fake LC’s and arranging overdraft limit against non-existent LIC Policies at two Jaipur Branches – Malviya Nagar and MI Road and one Udaipur Branch of Syndicate Bank. On March 18 2016, CBI arrested a chartered accountant of Udaipur and a businessman/real estate developer of Jaipur.