CBI arrests 2 for Rs 2,700 crore fraud after extradition from UAE | India News
Parekh, the CBI said, was involved in a case of banking and financial fraud to the tune of Rs 2,672 crore. The case was registered by the CBI in Kolkata in 2016 against a consortium of 25 banks for alleged fraud.“The accused in conspiracy, along with other promoters and directors, facilitated the diversion of the bank’s funds through a network of foreign entities and business operations, including in the UAE, actively conducting export-related activities and conducting financial transactions of the company and its related entities abroad using fraudulent practices such as manipulation of financial transactions and abuse of bank channels.”The accused was staying in the UAE on the basis of an Interpol red notice. The matter was seized by the UAE authorities at the request of India. After due legal process and close coordination between the Indian and UAE authorities, the decision was taken to hand over the matter to the Indian authorities. The subject reached Delhi on 1 May and was taken into custody in Calcutta.In the second case, accused Kumar was involved in a case registered by the Haryana Police for offenses including cheating, forgery, criminal conspiracy and using forged documents to obtain passports fraudulently.“The accused was the main conspirator in a well-organized racket involved in procuring Indian passports on the basis of forged documents and false information. The accused helped several persons with criminal antecedents to obtain the passports using fabricated identities and addresses,” the CBI said.The accused plays an important role in coordinating illegal activities and managing the migration of such persons. CBI issued a red notice against the matter through Interpol channel on the request of Haryana Police.Subsequently, the subject was located and arrested by the UAE authorities. An extradition request was then made to the UAE authorities. The subject reached Mumbai on May 1 where he was taken into custody by the Haryana Police.
