Chennai: The Central Investigation Bureau has caught nine people in connection with the fraud of Rs 100 Crore which caused RS 45.4 Crore losses for Bank India.
The defendant, was identified as Ganesh Natarajan, V Manimozhi, J Selvakumar aka Selvam, K Zakir Hussain, M Vijay Halld, M Rajesh Singh, S Afsar and V SudaLaimututu aka Annachi, Chennai’s deposits were closed not integrated / pre-closed.
The Trust (CPT) port was held at the bank, the Liberation of CBI on Tuesday said.
The CBI registered a case on July 31, 2020, in complaints from Bank India, Chennai, against two individuals, the branch manager of his Koyambedu, and other unknown public servants and personalities for allegedly committing fraud, forgery and imitation to deceive banks.
Rs 100.5 Crore song.
It was also the allegation that the loss of RS 45.4 Crore was caused by the Bank through the seizure / pre-closure of several time deposits (fixed deposits) made on behalf of CPT and also transferred / attracted the amount through various accounts.
According to the CBI, the defendant conspiraced and combed the Bank and CPT for the opening of time deposits in the Koyembedu Branch of Bank India.
Thus, 45 futures deposits (FDS) were made during the period between March and May 2020.
One of the accused of accusing himself as Deputy Director (Finance) Trust Port Chennai and opened a fake current account on behalf of CPT in Koyambedu Branch.
After receipt of investment from CPT on every occasion, the bank creates the term acceptance of deposits (bonds) to the investment.
The bond was received by the defendant from the bank directly.
Instead of giving the original bond to CPT, the defendant made a duplicate bond and submit fake bonds to CPT.
Having an original bond in his ownership, the defendant was allegedly presented in the presence of Bank India, the Koyambedu branch, and blocked the term deposits one by one in a few days to coat the term deposits.
The money received from the pre-closure of time deposits is thought to be credited into a fake current account made on behalf of the CPT by the defendant and then transferred to 28 different accounts.
This money was withdrawn by 28 account holders and was handed over to various defendants.
CPT continues to invest in time deposits and the same thing allegedly closed by the defendant one by one, after the bond was created by the bank.
As many as Rs 100.57 Crore (around) are transferred from CPT in five investments where 45 futures deposits of different amounts are made.
Of the total investment, only RS 55.19 Crore which could be frozen after detection of fraud and the remaining RS 45.40.65,000 was cheated by the defendant.
Previous search was conducted in 22 locations including in Chennai, Tirunelveli, Tuticorin and Nagercil which led to recovery of several burdensome material documents and materials.
Eight of the nine captured was produced before a special judge for the CBI case in Chennai.
They are returned in judicial custody.
The remaining ones were accused of being captured from Tirunelveli, taken on transit delivery from competent courts.