CBI detained a main in the Goa airport in connection with a line of credit bank fraud case and has obtained a 4 day transit remand.
The case dates back to 1997 when CBI has registered it on 12.11.1997 against 6 persons that included four bankers. The chargesheet was filed on 25.09.2000 once the investigation was complete before the special judge, Ahmedabad against 28 accused persons including 4 bankers. The amount involved in the case is Rs.3.77 crores.
Th Director of an Ahmedabad-based builder’s company (main accused in the case) had obtained credit for 31 cheques amounting to Rs 3.77 crore (approx) fraudulently. This has resulted in a loss of Rs 3.77 crore (approx) to the Bank of Baroda. The said absconding accused, then Director of Mumbai-based company and others had been instrumental in aiding the said main accused by issuing these cheques to him.
After CBI took over the investigation, a look out circular (LOC) was isued against him and he was also proclaimed a repeat offender. Later, an RCN was also issued against him and an extradition proposal was also sent to Canada where he was believed to be hiding.
Based on a tip-off that the said accused has changed his name and would be travelling to India, the CBI arrived earlier and was waiting to nab the kingpin. He will now be produced before the special judge in Ahmedabad.