CBI raids 169 locations over bank fraud cases worth Rs 7,000 crore
The Central Bureau of Investigation (CBI) carried out searches at 169 locations across the country on Tuesday in connection with various bank fraud cases. The raids were carried out in connection with 35 bank fraud cases amounting to Rs 7,000 crore.
The locations raided were across Andhra Pradesh, Chandigarh, Delhi, Gujarat, Haryana, Karnataka, Kerala, MP, Maharashtra, Punjab, Tamil Nadu, Telengana, UP, Uttarakhand, and Dadra & Nager Haveli.
A CBI official stated that the raids were carried out simultaneously on Tuesday morning. The name of the banks that were targeted in the nationwide raids have not been revealed by the agency. Similar searches in bank fraud cases were carried out in the last few months.
In the recent PMC Bank case, the lender had created more than 21,000 fictitious accounts to cover up Rs 4,300 crore of loans to the almost-bankrupt HDIL. HDIL promoters, Rakesh and Sarang Wadhawan, PMC Bank Managing Director Joy Thomas, Chairman Waryam Singh and Director SS Arora were arrested by the Economic Offences Wing of the Mumbai Police.