NEW DELHI: Central Investigation Bureau (CBI) on Wednesday arrested 6 people in connection with the fraud of RS 6,000 Crore’s foreign exchange delivery at the Bank of Baroda, which was detected in 2015, officials said.
The CBI also searched 14 locations in connection with this case, they said.
The agency has submitted a Chargesheet at the Special Judge Court on December 12, 2015, against the RUs of Baroda Bank and then forex bank officials, CBI spokesman RC Joshi.
The CBI on Wednesday arrested six personal individuals –tanuj Gulati, Ish Bhutani, Ujjwal Suri, Hundney Goel, Sahil Wadhwa and Rakesh Kumar – as part of a sustainable investigation in this case, officials said.
The agency in 2015 has ordered several bank officials and other people because it was alleged to send more money than Rs 6,000 Crore to Southeast Asian countries by 59 current account holders from the Ashok Vihar Bank Baroda branch in Garb Payment, it was said “no” imports They said.
The CBI source said that the agency had found that the Ashok Vihar branch was a relatively new branch that had permission to entertain Forex transactions only in 2013.
They said that Rs 6,000 Crore was transferred through nearly 8,000 transactions carried out between July 2014 and July 2015.
The number was sent In each transaction stored less than $ 1 lakh.
“All remittances are made for Hong Kong.
That number was taken as a down payment for imports and in most cases, the beneficiaries were the same,” said an official after submitting FIR.
“Most transactions related to foreign currencies are carried out in the newly opened account where heavy cash receipts are observed but the branch does not produce an extraordinary transaction report (ETR) and does not monitor high-value transactions,” said the senior official said.
Resources say this remittance is sent by dividing it into the amount below the $ 1 lakh to avoid automatic detection with the software used by the Bank to remind them of the transaction.
They say in the taxation language of this technique known as Smurfing and Holders can pass the supervision of the transaction.
Sources said most of the 59 defendants had been identified by agencies.
“It was revealed that most of the address provided by the company / company was wrong or the company / company was not at this address.
Most of the people accused allegedly involved in these crime errors have been identified and their interrogation.
It is underway,” the official said.