Bank frauds: CBI searches 16 places in Panipat, Gurugram and Chandigarh

New Delhi : The Central Bureau of Investigation (CBI) has conducted searches at 16 locations including Panipat, Gurugram and Chandigarh in three separate cases related to bank frauds of nearly Rs 16.80 crore, officials stated on Friday. The agency said it has registered cases against two Panipat-based private firms, a Chandigarh-based private firm and unknown bank officials.According to the CBI, the accused persons allegedly caused a loss to UCO Bank and SIDBI in these cases including conspiracy, cheating, and forgery of valuable securities. They used forged documents for loan frauds, it said.

The CBI registered the first case on a complaint against borrowers, guarantor, and their CAs and unidentified bank officials for allegedly causing a loss of nearly Rs 3.44 crore to UCO Bank’s Panipat branch. In another case, the agency registered a case against a private firm based at Panipat in Haryana. As per the case, borrowers, guarantor, and their CAs, and unknown bank officials allegedly caused a loss of around Rs 4.97 crore to UCO Bank’s Karnal branch.The third case was registered on a complaint from SIDBI, Chandigarh against a private firm based at Chandigarh and others including borrowers, guarantors, their CAs and unknown bank officials for allegedly causing a loss of around Rs 8.39 crore to the bank.