New Delhi, March 22 The Central Bureau of Investigation (CBI) said on Tuesday that it has arrested an assistant superintendent of Chennai Port Trust (CPT) in connection with an ongoing investigation into an alleged bank fraud, in which fixed deposits of CPT were foreclosed/pre-closed fraudulently.
The accused has been identified as S. Raghu Bernard.
A total of 17 persons, including two foreign nationals, have been arrested in this case so far, who have been sent to judicial custody. Three charge-sheets have also been filed against 23 accused per sons.
The CBI had in 2020 lodged a case based on the complaint of Indian Bank, Chennai, against two private persons, branch manager of the bank and others. They were accused by the bank of committing fraud, forgery, and impersonation with the intention to cheat the bank.
The bank had alleged in its complaint that the accused caused a loss of Rs 45,40,65,00 by the way of foreclosing and pre-closing of several term deposits (fixed deposits) created in the name of Chennai Port Trust (CPT) and also transferring and withdrawing the said amount through various accounts.
It was further alleged that the accused convinced the bank and the CPT to open term deposits in the Koyembedu branch, and accordingly 45 FDs were created during the period between March 2020 and May 2020.
"One of the accused allegedly impersonated himself as Deputy Director (Finance) of Chennai Port Trust and opened a fake current account in the name of CPT. After the receipt of investment from the CPT on every occasion, the bank issued term deposit receipts (bonds) against the said investment and the said bond was received by the accused from the bank directly. Instead of delivering the original bond to CPT, the accused made duplicate bonds and submitted the forged bonds to CPT," said the CBI official.
It was also alleged that having original the bonds in possession, the accused allegedly presented the same before the bank, and pre-closed the term deposits one after another within a few days of their creation.
The money received from the pre-closure of term deposits was allegedly credited into the fake current account created in the name of CPT by the accused, and subsequently transferred to around 34 different accounts.
This money was withdrawn by 27 account holders and handed over to the accused persons.
The CPT was continuously investing in term deposits and the same was allegedly pre-closed by the accused one after another, after the bonds were created by the bank. In that process a total of Rs 100.57 crore was transferred from CPT in five investments against which 45 term deposits of different amounts were created.
Out of the total amount invested, Rs 55.19 crore could be freezed after the detection of the fraud while the remaining Rs 45,40,65,000, was swindled by the accused.
The CBI official said that searches were earlier conducted at 40 locations, including in Chennai, Tirunelveli, Tuticorin and Nagercoil, which led to the recovery of several incriminating documents and material objects.
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