New Delhi, Nov 14 The Central Bureau of Investigation (CBI) has arrested Singapore-based businessman Rajesh Bothra for his alleged involvement in a Rs 31.60 crore bank fraud case linked to Punjab National Bank (PNB), the investigation agency said on Friday.
Bothra was taken into custody on Thursday after the agency received specific inputs about his arrival in India and subsequently traced him to Hotel Andaz and Hyatt Residences in Aerocity, New Delhi.
The case, registered last year (RC0062024A0032) on the basis of a complaint filed by PNB, pertains to alleged fraudulent activities by M/s Frost Infrastructure and Energy Pvt. Ltd. (FIEL), its directors, unknown individuals, and unnamed public servants.
The company had reportedly availed a Foreign Letter of Credit (FLC) limit from the bank through forged documentation.
According to investigators, Bothra played a key role in orchestrating the fraud by generating and supplying bogus Bills of Lading, which falsely depicted sale–purchase transactions between FIEL and two foreign entities—M/s FAREAST and M/s Gulf Distribution Ltd.
"Investigation has revealed that M/s FAREAST and M/s Gulf Distribution Ltd. were actually controlled and operated by Rajesh Bothra and no actual business or movement of goods took place as falsely shown in the forged Bills of Lading," the CBI said on Friday.
These forged Bills of Lading were allegedly submitted to the bank to secure LC proceeds, enabling FIEL to siphon off funds amounting to approximately Rs 32 crore from PNB (formerly Oriental Bank of Commerce).
The CBI further said that the accused also figures as an accused in some other cases of CBI, ACB, Lucknow, in which he has been charge sheeted along with other accused persons.
"The accused Rajesh Bothra never joined the investigation in the aforesaid cases nor did he turn up during the trial. The accused is wanted in many other bank fraud/economic offence cases," it said.
Officials said his arrest is critical to ensure his presence before courts and prevent him from evading the legal process again. Bothra will be produced before the trial court concerned on Friday itself.
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