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Two foreign nationals - one from Congo and another from Cameroon - were arrested by the Central Bureau of Investigation (CBI) in the city in connection with a bank fraud in which fixed deposits of Chennai Port Trust (ChPT) were foreclosed/pre-closed fraudulently. They were reportedly on student visas and were not in possession of original passports, says a CBI press release.
The CBI had earlier arrested nine accused and all of them are in Judicial custody.
The CBI registered a case in July 2020, based on a complaint from Indian Bank on a number of persons on allegations of committing fraud, forgery, impersonation with the intention to cheat the bank to the tune of ₹100.57 crore. It was alleged that a loss of ₹45.40 crore was caused to the bank by way of foreclosing/pre-closing of several term deposits (fixed deposits) created in the name of ChPT and transferring/ withdrawing the said amount through various accounts. It was also alleged that the accused in conspiracy with each other canvassed the bank and ChPT for opening of term deposits in IB’s Koyambedu Branch and accordingly, 45 Term deposits (FD) were created during the period between March 2020 and May 2020.
Modus operandi
One of the accused allegedly impersonated as a Deputy Director (Finance) of ChPT and opened a fake current account in the name of ChPT at IB’s Koyambedu branch. After the receipt of investment from the ChPT on every occasion, the bank created term deposit receipts (Bond) against the said investment and the bond was received by the accused from the bank directly. Instead of delivering the original bond to ChPT, the accused made duplicate bonds and submitted the forged bonds to ChPT, the release said.
Also read: CBI probes hack into TCS iON assessment software platform
Having original bonds in possession, the accused allegedly presented the same before IB and pre-closed the term deposits one after another within a few days of creation of term deposits. The money received from the pre-closure of term deposits was allegedly credited into the fake current account created in the name of ChPT by the accused and subsequently transferred to 34 different accounts. This money was withdrawn by the 27 account holders and handed over to the accused persons. ChPT 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.
A total of ₹100.57 crore was transferred from ChPT in five investments against which 45 term deposits of different amounts were created. Out of the total amount invested, ₹55.19 crore could be freezed after the detection of the fraud and remaining ₹45.40 crore were swindled by the accused.
Investigation is continuing, the release said.
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