The Central Bureau of Investigation has registered 16 cases on the complaints received from Corporation Bank relating to alleged fraud involving three Branches of Corporation Bank at Vasant Vihar (5 cases), Vasant Kunj (6 cases) & Aali (5 cases), all in Delhi against then Chief Managers, then Senior Manager/Branch Manager of Corporation Bank and other private persons, private firms including Proprietor/Owner of private firms mostly based at Delhi, an advocate & unknown others.
Searches were conducted today at 13 places including Delhi (10 places), Ghaziabad (02 places) & Ahmedabad (01 place) at the premises of accused persons/firms which led to recovery of incriminating documents. This is in addition to 3 more cases which were earlier registered relating to bank fraud in Vasant Kunj branch of Corporation Bank, Delhi and the searches were also conducted on 01.06.2017 at 10 places.
It was alleged that the private persons/ the same group of loanees had floated various firms for the purpose of cheating the bank fraudulently by taking loans on the basis of fake/forged documents. The concerned bank officials had allegedly processed & finalized the loan applications without verifying the documents and without completing pre-sanction formalities in haste & ultimately the loans became Non Performing Assets (NPA). It was also alleged that the borrowers had submitted fake & fabricated documents including account statements, no due certificates, financial statements and also mortgaged the properties which were already mortgaged to another Bank. The accounts turned into NPA and an alleged loss to the tune of Rs. 145.48 crore (approx) was caused to the Bank.
Further investigation is continuing.