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CBI arrests 3 absconding accused in bank fraud cases

ANI | Updated: Aug 05, 2021 19:37 IST

New Delhi [India], August 5 (ANI): The Central Bureau of Investigation (CBI) has arrested three absconding accused from Pune and Mumbai in bank fraud cases.
The CBI had filed the case on December 13, 2007, against the accused along with 12 others including officials of Union Bank of India, Sachivalya Branch and Central Bank of India, Nakkhas Branch, Lucknow.
"It was alleged the accused entered into a conspiracy with themselves & others in sanctioning and disbursing housing loans & CCH limits against forged & bogus documents. An alleged loss to Union Bank of India for Rs 201.59 lakh approx. and Central Bank of India for Rs 49.40 lakh approx. was caused," the investigation agency said in a release.

"It was also alleged that eight Housing Loans were sanctioned from Union Bank of India, Sachlvalaya Branch, Lucknow, three housing loans from Central Bank of India, Nakkhas Branch, Lucknow and six CCH limit/term Loan from Union Bank of India, Sachivalaya Branch, Lucknow towards the purchase of semi built flats but the accused diverted the loan amount," it said.
The CBI said these housing loans were obtained by the accused on the strength of fake loans against Trust Receipt (LTRs), bills of non-existing firms, etc. and falsely shown the completion of work and also made an observation regarding completion certificate in respect of sanctioned loans.
The three accused were evading their presence before the trial court at Lucknow since the filing of the charge-sheet against them on April 30, 2010. The trial court declared them "proclaimed offenders" and issued a Non-Bailable Warrant (NBW) against them on October 14, 2019, the release said.
The CBI had also registered a case on December 28, 2010, against one of the three accused and an unidentified official of Punjab National Bank, Charbagh Branch, Lucknow. It was alleged that the accused, resident of Lucknow entered into a conspiracy with the official of the bank and obtained a housing loan of Rs 12.80 lakh approximately on the basis of forged documents and by not repaying back the said amount, causing loss to the bank.
The arrested accused were produced before the Court of Special Judge, CBI, cases in Lucknow and remanded to Judicial Custody. (ANI)