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Economic Fraud

CBI Raids Faridabad Based Company For A Rs 236 Cr Bank Fraud



CBI Raids Faridabad Based Company for Rs 236 Cr Bank Fraud

New Delhi: The Central Bureau of Investigation has registered a case against a Faridabad based private company for causing an alleged loss of Rs.236.74 crore to Indian Overseas Bank. The complaint from Indian Overseas Bank was against the company’s directors, unknown public servants. 

According to a senior official, it was alleged in the complaint that the accused had cheated the Indian Overseas Bank by ways of diversion of bank funds, submission of fabricated documents, criminal misappropriation, cheating etc.

Following the complaint, teams of CBI carried out searches at 14 locations at the office and residential premises of accused including Borrower Company which led to the recovery of incriminating documents.