CBI files chargesheet in Rs.220 crore Dena Bank fraud
Mumbai: The CBI filed a chargesheet against a former Dena Bank official, a top company official and two others for defrauding the bank to the tune of Rs.220 crore (Rs.2.20 billion) last year, an official said here on Tuesday.
The accused are Pritam V. Nagarkar, the then chief manager of Dena Bank's Malabar Hill Branch in Mumbai, Showman Group Vice-President Vimal Barot, and two co-accused Devendra Bhogle and Rahul Gohil.
The chargesheet in the scam -- unearthed in July last year -- was lodged in the Central Bureau of Investigation (CBI) special court invoking various sections of the Indian Penal Code and Prevention of Corruption Act.
According to the CBI investigations, the bank chief manager allegedly connived with the other accused to commit the fraud on the bank by mobilising term deposits of Rs.256.49 crore from various organisations.
On the basis of forged requests for overdraft facilities against term deposits of at least seven companies, loans were sanctioned to these organisations.
The CBI said that Nagarkar and Barot allegedly conspired to siphon off Rs.220 crore causing loss to Dena Bank.
Soon after exposing the scam, the CBI had raided the homes and offices of the accused at three locations in Mumbai.