CBI set to charge 2 bank officials in BoB fraud case

The CBI, which is investigating Rs 6,000 crore suspicious remittances case at a Bank of Baroda (BoB) branch in Delhi, is all set to file a supplementary chargesheet against two senior officials of the PSU bank.

Sources said, “The agency has found enough evidence against two bank officials to file a supplementary chargesheet in this case”. The CBI recently filed its first chargehseet in the case against the then additional general manager S.K. Garg and Jainish Dubey, who headed the foreign exchange division at Bank’s Ashok Vihar Branch.

Investigations by the agency have revealed that 59 current account holders and unknown bank officials of the BoB branch in Ashok Vihar, allegedly conspired to send overseas remittances, mostly to Hong Kong, of foreign exchange worth approximately `6000 crore in illegal and irregular manner, through 6255 transfers during May 2014-July 2015, in violation of established banking norms under the garb of payments towards suspected non-existent imports, sources said.

“Investigation have also revealed that both the chargesheeted accused had abused their official position and allegedly cheated and misappropriated the bank funds to the tune of `13.75 crores (approx), thereby causing alleged loss to Bank of Baroda,” sources said. Role of two other senior officials of the bank is also under the scanner of the agency, sources said adding that the CBI sleuths have collected enough evidence against them.

The CBI had registered a case under Section 120-B (criminal conspiracy), 420 (cheating) of IPC and the Prevention of Corruption Act, 1988, against several current account holders and unknown bank officials and private persons on a complaint from BoB.