The CBI on Thursday filed a chargesheet in connection with the case of alleged illegal remittances worth Rs6,000 crore made to Hong Kong and UAE from a Bank of Baroda branch here. A CBI spokesperson said two former officials of Bank of Baroda have been named in the chargesheet.
Those named include the then AGM and Branch Head SK Garg and then Forex Officer Jainish Dubey, both posted at Bank of Baroda, Ashok Vihar Branch here.
The agency has chargesheeted them for criminal conspiracy and cheating under the Indian Penal Code and relevant Sections of the Prevention of Corruption Act for alleged violation of banking norms in overseas remittance of foreign exchange, an official spokesperson said.
“The investigation revealed that both the accused had abused their official position and in conspiracy with each other and with the said account holders had allegedly cheated and misappropriated the bank funds to the tune of Rs13.75 crores (approx), thereby causing alleged loss to Bank of Baroda,” the spokesperson said.
Investigation also revealed that the accounts were allegedly opened either in fictitious names or in the names of persons who were employed in different companies. Forged and fake identity papers like PAN Cards and Voters ID cards were allegedly used for opening the accounts in fictitious names, the official said.
The CBI had booked 59 current account holders and unknown bank officials and private persons on a complaint from the Bank.
The FIR had alleged that 59 current account holders and unknown bank officials conspired to send overseas remittances, mostly to Hong Kong, of foreign exchange worth approximately Rs6,000 crore in an illegal and irregular manner in violation of established banking norms under the garb of payments towards suspected non-existent imports.
During course of investigation, CBI had arrested Garg and Dubey for their alleged involvement in facilitating the foreign remittances by violating the laid down procedures/guidelines of Bank of Baroda and thereby facilitating the accused persons in money laundering.
A senior CBI official said as many as 6,255 transactions through these 59 dubious transactions were analysed before filling the chargesheet. This apart, about 350 bank accounts abroad are also under the scanner as part of the further probe into the case.