Lucknow, May 14 (IANS) The Central Bureau of Investigation (CBI) has arrested two accused in a bank fraud case involving unauthorized fixed deposits worth Rs 64 crore in the name of an Uttar Pradesh government entity and embezzlement of interest, an official said on Thursday.

The CBI registered the instant case on January 15 on receiving a complaint from Bank of India, Lucknow, against accused Deepak Sanjeev Suvarna and Deepak Yadava – both private persons, the probe agency said.

The accused were arrested and produced before the Court of Special Judge, Anti-Corruption, (West) Lucknow, which remanded them to police custody till May 16, said a CBI statement.

It was alleged that the accused private persons, in conspiracy with unknown public servants and others, fraudulently opened a fake bank account in the name of Uttar Pradesh Forest Corporation (UPFC) at the Bank of India, Sadar Branch, Lucknow, using forged KYC documents, fabricated authorisation letters, and fake board resolutions.

Based on such forged documents, the accused induced the bank to transfer Rs 64.82 crore into the said account for the creation of FDRs purportedly on behalf of UPFC, the CBI said.

Later, the accused allegedly diverted and transferred Rs 6.95 crore through RTGS to six beneficiary firms located in Kolkata and New Delhi, it said.

The fraud was detected when UPFC officials informed the bank that no such authorisation had been issued and that the accused had no association with UPFC, the CBI said.

During the investigation, the CBI conducted extensive searches across multiple states to trace the absconding accused.

After sustained surveillance, coordinated searches and extensive field operations, the accused persons were successfully located and arrested, the CBI said.

In a separate case, an employee of Bank of India, Bhadohi, Tausif Akhtar, was booked by the CBI for a fraud involving Rs 9.2 crore.

The bank said in its complaint that Akhtar, credit manager, opened multiple loan accounts against TDRs/Third-Party TDRs and Mudra Loans by submitting fictitious and fabricated credentials without the knowledge/consent of the borrowers/FDR holders.

He was aided in the criminal conspiracy by unknown others, and together they misappropriated Ioan’s proceeds to other accounts for personal gain, the CBI said.

Akhtar was accused of criminal breach of trust, forgery of valuable security, forgery for the purpose of cheating, using a forged document as genuine, criminal conspiracy and criminal misconduct by a public servant in the FIR registered by the CBI on May 11, an official said.

–IANS

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