Ahmedabad, July 18 (IANS) A special CBI court in Ahmedabad has sentenced a former Indian Overseas Bank (IOB) branch manager and a private individual to three years’ rigorous imprisonment after finding them guilty in a bank fraud case involving fraudulent greenhouse project loans that caused a loss of Rs 2.60 crore to the bank, an official statement said on Saturday.The CBI said: “The court on Friday convicted Neeraj Kumar Jain, the then branch manager of Indian Overseas Bank, Himmatnagar, Gujara…
Latest Bank Fraud News & Updates
Jaipur, July 7 (IANS) The Enforcement Directorate (ED) has provisionally attached movable and immovable assets worth around Rs 112.90 crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with an alleged Rs 376 crore bank fraud involving M/s LEEL Electricals Limited (formerly Lloyd Electric and Engineering Limited), its main promoter Bharat Raj Punj, and others. According to the ED’s Jaipur Zonal Office, the attached properties include land, industrial …
Chennai, June 30 (IANS) A special Central Bureau of Investigation (CBI) court in Chennai sentenced a former senior bank official, and a private company chief to seven years of rigorous imprisonment in a bank fraud case involving the fraudulent sanction and disbursement of housing loans that caused a loss of more than Rs 5.29 crore to, a public sector bank, Central Bank of India, the agency said on Tuesday.The court also slapped a fine on the private firm in connection with the case.The court on …
New Delhi, June 26 (IANS) The Central Bureau of Investigation (CBI) on Friday arrested a manager of the Punjab National Bank’s Bhadrauli Branch in Agra’s Barhan, Uttar Pradesh, in connection with an alleged bribery case. According to the CBI, the case was registered on June 25, based on a complaint filed by an employee of a private company. It was alleged that the bank manager demanded illegal gratification of Rs 7,000 per loan file to process and clear around 19 solar panel loan applications.Th…
Mumbai, June 10 (IANS) The Directorate of Enforcement (ED) has provisionally attached a prime Arabian Sea-facing property in Maharashtra’s Raigad district, valued at more than Rs 60 crore. The attachment was carried out by the ED’s Indore Zonal Office under the provisions of the Prevention of Money Laundering Act (PMLA) as part of its ongoing probe into the alleged Rs 1,400-crore bank fraud involving S. Kumars Nationwide Limited (SKNL), an official statement said on Wednesday.The property, locat…
Chandigarh, June 1 (IANS) The Directorate of Enforcement (ED), Chandigarh Zonal Office, has arrested real estate businessman Vikram Wadhwa under the provisions of the PMLA in connection with its ongoing investigation into the alleged Rs 645 crore IDFC First Bank fraud case, an official statement said on Monday.According to the ED, Wadhwa was arrested on May 29 under Section 19 of the PMLA.The agency’s investigation has so far revealed the alleged embezzlement of public funds amounting to approxi…
Chandigarh, May 29 (IANS) The ED arrested a company’s top official in a case related to causing Rs 155 crore loss to banks using Foreign Letters of Credit (FLCs) for creating a mirage of fake import of timber from Singapore, an official said on Friday. The Directorate of Enforcement (ED), Chandigarh Zonal Office, arrested Deepak Singla of Mahesh Timber Pvt Ltd under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, on May 18, 2026.Subsequently, transit remand was taken from Ro…
Chennai, May 23 (IANS) A special CBI court in Chennai has convicted a private software company, its Managing Director and CEO, along with two other private individuals, in connection with a bank fraud case involving fraudulent loans amounting to Rs 1.24 crore, officials said on Saturday.The verdict was delivered by the CBI Court in Chennai on Friday after completion of the trial in the case investigated by the Central Bureau of Investigation (CBI).According to officials, the convicted company is…
Lucknow, May 14 (IANS) The Central Bureau of Investigation (CBI) has arrested two accused in a bank fraud case involving unauthorized fixed deposits worth Rs 64 crore in the name of an Uttar Pradesh government entity and embezzlement of interest, an official said on Thursday. The CBI registered the instant case on January 15 on receiving a complaint from Bank of India, Lucknow, against accused Deepak Sanjeev Suvarna and Deepak Yadava – both private persons, the probe agency said.The accused we…
Bhopal/Narmadapuram, May 12 (IANS) Madhya Pradesh Police has busted an inter-state cyber fraud gang involved in stealing money from bank accounts through malicious APK files and eSIM swapping, officials said on Tuesday. Two accused — Umesh Das (30) and Uttam Kumar Das (23), both residents of Madhupur in Jharkhand’s Deoghar district — were arrested on May 7 and brought to Madhya Pradesh on May 11, police said.According to police, the accused allegedly duped a villager from Narmadapuram …