Financial fraud: CBI arrests proclaimed offender after 20 years

Bengaluru: After nearly two decades on the run, a proclaimed offender in a Rs 8-crore bank fraud case has been arrested by the Central Bureau of Investigation (CBI).

The accused, Mani M Sekhar, was traced using advanced image search tools, officials said.

The CBI registered the case in Bengaluru on August 1, 2006, against Ramanujam Muthuramalingam Sekhar alias RM Sekhar, Managing Director of M/s Indo Marks Pvt Ltd, and his wife Mani, Director of M/s Indo Marks, and BTC Home Products Pvt Ltd.

"Between 2002 and 2005, the couple entered into a criminal conspiracy and dishonestly cheated State Bank of India, Overseas Branch, Bengaluru, of Rs 8 crore by misusing non-fund-based credit limits in the name of Indo Marks Pvt Ltd and its sister concerns,” the CBI said in a statement on Thursday.

A charge sheet was filed on December 12, 2007. However, both accused failed to appear for trial or respond to summons and warrants. On February 27, 2009, a court declared them proclaimed offenders. The CBI announced a reward of Rs 50,000 after failing to trace them.

“While other co-accused were tried and convicted or acquitted, the trial against these two remained pending. They changed their identities, never used old KYC details, and adopted new names — Krishna Kumar Gupta and Geetha Krishna Kumar Gupta — along with fresh mobile numbers, PANs, and emails,” the CBI said.

Digital footprint

Using advanced image comparison tools, the CBI tracked their digital footprints and matched their current identities to those of the absconders.

A team verified the findings on the ground and located them in Indore, Madhya Pradesh.

Further investigation revealed that RM Sekhar, under his assumed identity, had died in 2008. Mani M Sekhar is now facing trial.