Cyber Crime
21 Crore Bank of Baroda, Standard Chartered Bank Scam: CBI Arrests Proclaimed Offender
The Central Bureau of Investigation (CBI) arrested a “proclaimed offender” on Tuesday in connection with a Rs 21 crore loan fraud involving the Bank of Baroda and Standard Chartered Bank. The accused, Surender Kumar, had been declared a “proclaimed offender” by a special court in August 2023. He is alleged to have transferred loans to his two companies using forged Letters of Credit (LC), according to officials.
The CBI alleges that Kumar, in collusion with the promoters of the borrower company, diverted funds during the period from 2009 to 2017.
ALSO READ: Join The Movement: Registration Open for ‘Cyber Safe Uttar Pradesh’ Event by FCRF on October 17
A case was registered by the CBI on March 23, 2021, based on a complaint by the Assistant General Manager (AGM) of the Stressed Asset Management Branch (SAMB) of Bank of Baroda. The complaint alleged that the directors and guarantors of a private borrower company, along with unknown public officials and private individuals, committed fraud between 2009 and 2017, amounting to Rs 21.21 crore in loans from Bank of Baroda and Standard Chartered Bank, the CBI spokesperson said.
The agency filed a charge sheet against eight individuals, including Kumar, on December 12, 2022. Despite multiple summons, Kumar failed to cooperate with the investigation or appear for trial proceedings, leading the court to declare him a proclaimed offender on August 25, 2023. Consequently, a standing warrant was issued by the Special Judicial Magistrate, CBI, Ghaziabad.
Kumar was apprehended in Kamla Nagar and produced before the Special Judicial Magistrate, CBI, Ghaziabad, where he was remanded to judicial custody until September 27, 2024. In a related development, another proclaimed offender in the same case, Mohit Shah, was arrested by the CBI on July 24, 2024, and remains in judicial custody.