CBI Registers Case Against 8 Bank Fraud Cases

Bhubaneswar : , Nov 30, 2010 – The Central Bureau of Investigations (CBI) has filed a case against eight people, including three private companies based in Cuttack and Bhubaneswar cities of Odisha, in connection to a bank Fraud case that involved Rs 21 crore.
The case has been filed against three private companies — partners, guarantors/proprietors of private companies and unknown officials of Bank of Baroda and unknown others on the allegations of Bank fraud.

 Cbi Registers Case Against 8 Bank Fraud Cases-TeluguStop.com

According to a statement by the CBI on Tuesday, the case was filed based on a complaint made by Bank of Baroda Cuttack (Odisha).

According to the agency, the accused was accused of taking out credit limits, including the fund-based working capital (FBWC), limit from Bank of Baroda in a conspiracy with others and cheating the Bank.This led to loss of Rs 20.99 crore with interest during the period 2011 to 2017.

The accused also diverted funds to the loan accounts and misappropriated public money in the form a loan amount.

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