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CBI REGISTERS A CASE AGAINST TWO THEN AGMs & TWO THEN CHIEF MANAGERS OF SYNDICATE BANK AND OTHERS FOR CAUSING AN ALLEGED LOSS OF RS. 209 CRORE (APPROX) TO BANK

Press Release New Delhi, 25.03.2017

The Central Bureau of Investigation has registered a case u/s 120B r/w 420, 467, 468, 471 of IPC and 13(2) r/w 13(1)(d) of PC Act on a complaint from Syndicate Bank against two then AGMs & two then Chief Managers of Syndicate Bank and six private persons including CA, Builder etc. related to a fraud in its two branches at Jaipur and one at Udaipur (Rajasthan). An alleged loss of Rupees 209 Crore (approx) was caused to the bank.

It was alleged in the complaint that the said accused in criminal conspiracy with each other availed home loans/ credit facilities from Jaipur & 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.

Searches are being conducted today at 04 places including Jaipur, Ajmer at the residence/ official premises of accused persons. It is also informed that two accused are still in Judicial Custody and other one accused is on bail by Hon’ble Supreme Court of India on medical grounds in another case which was registered during March 2016 & chargesheeted by CBI.

Further investigation is continuing.

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Tags : CBI (381) frauds (61)

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