Cong accuses BJP of aiding scamsters in fleeing country, questions delay in Frost Int FIR

The Congress on Wednesday accused the BJP government of aiding fraudsters in escaping from the country after committing scams and swindling public money to the tune of Rs 2.7 lakh crore.

Congress spokesperson Jaiveer Shergill questioned the delay in registering a case against the directors of Frost International for alleged fraud of Rs 3,600 crore and allowing their escape from the country.

Shergill said as many as 31 fraudsters, including Nirav Modi and Mehul Choksi, have escaped from the country after committing scams and looting public money and accused the BJP government of writing off loans to the tune of Rs five lakh crore.

"Rising NPA and rising loan write-offs is the BJP's gift to the Indian economy. The BJP government is emptying the pocket of common man with the twin strategy of give and forget, i.e., by giving loans to willful defaulters using public money and then, writing off-the loans arbitrarily without any rational or justification, thereby harming public interest," he told reporters.

He said the focus of the BJP government of "Suit-Boot" is only on industry of "Loot and Scoot" as under the BJP's rule the "common man is in pain but the con man is in gain".

"Is the BJP government involved in Frost International Bank Scam of Rs 3,592.48 crores and escape of its directors? Political accountability must be fixed on PM and FM for Rs 2,70,513.49 crore public money looted from banks and Rs 5,00,000 crore written off of willful defaulters," he said.

Shergill alleged that the recent bank default and cheating case of Frost International Ltd, involving siphoning off and diversion of funds amounting to Rs 3,592 crores and the inability of investigating agencies to trace the location of 10 company directors/officials, once again proves that under the BJP Rule all the industries are sinking due to Modi-government's "manufactured" economic crisis though the industry of "loot and scoot" is flourishing.

The CBI on Tuesday booked Mumbai-based Frost International, its directors Uday Desai and Sujay Desai besides 11 other individuals and companies for allegedly cheating a consortium of 14 banks to the tune of over Rs 3,592 crore

"The BJP government plays the role of either a facilitator or mute-spectator whenever fraudsters fleece and fly to foreign shores. The surfaced scam of Frost International involving a consortium of 14 (lending) banks led by Public Sector Bank (Bank of India) re-affirms the BJP's policy of giving pain to common man and gain to con-man," he alleged.

"When, as per the FIR dated January 19, 2020, the lending banks (having Government-appointed nominees on its board) noted default in payments of Frost starting January, 2018 then, why was the complaint filed after a gap of two years on January 19, 2020?

"Why did the Ministry of Home Affairs issue a Look Out Circular (LOC) after a gap of eight days on 18.01.2019 after the request was made on 10.01.2019 by the lead bank BOI," he asked.

The Congress leader asked when the consortium of lending banks had authorized registration of complaint on 15.06.2019, why did it take the lead bank (BOI) more than six months to register a complaint on 18.02.2020.

Was someone in the BJP government preventing the registration of complaint and facilitating the escape of directors/officials of Frost, the Congress asked.

Shergill said the Prime minister assumed office with the promise of recovering black money within the first 100 days of his government. "However, in complete insult and betrayal of the mandate of the people, Modi government has comfortably overseen siphoning-off of Rs two lakh crore of public money from India along with the red carpet exit accorded to over 31 willful fugitives/defaulters who are now enjoying BJP gifted achhe-din on foreign soil."

He alleged that instead of building a 5-trillion economy, BJP has waived off bad loans and emptied public savings to the tune of 5 lakh crores.

"Why did the BJP government allow directors/officials of Frost to go missing after coming to know about irregularities on January 18, 2019. Why till date no investigation has been launched to probe the role of helping hand of the government in the escape of 31 plus fraudsters including Nirav Modi and Mehul Chowksi who have looted India," he asked.