CBI books 4 ex-bankers, builders in fraud case

CBI books 4 ex-bankers, builders in fraud case
The CBI on Saturday lodged a case against four former bank officials and six others for causing a loss of nearly Rs 209 crore to Syndicate Bank. Searches were underway at the residences of the accused,  including in Jaipur and Ajmer, a senior CBI official said.

The accused are former assistant general managers A K Tiwari and Adarsh Manchanda; and chief managers Santosh Gupta and Deshraj Meena, who worked at the bank’s Udaipur and Jaipur branches, the official said.

Udaipur-based chartered accountant Bharat Bomb, his builder brother-in-law Pavitra Kothari, Kothari’s employees Piyush Jain and Vineet Jain, and builders Shankar Lal Khandelwal and Anoop Bartaria were also booked for fraud.

According to the complaint,  the accused hatched a criminal conspiracy to avail home loans and credit facilities from the bank by submitting forged and fabricated documents. The funds then disbursed by the bank’s two branches were diverted and fraudulently siphoned off to the companies owned by the accused, causing a loss of approximately Rs 209 crore to the bank, the official said.

Bomb, said to be the mastermind of the crime, is facing a CBI probe in another case and has been in judicial custody since March 2016.

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