373 Proof of Crime Patrol true stories ::: How the filthy wealthy in India become rich – by defrauding banks — Crimepatrolreviews.com


Syndicate Bank MD in Rs 600-crore loan case NEW DELHI, DHNS: A high-profile loan fraud case amounting to Rs 600 crore came to light on Thursday with the CBI booking Aircel promoter C Sivasankaran, his son S Saravanan, and two top public sector bank officials, including Syndicate Bank chief Melwyn Rego. The agency, which named […]

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Syndicate Bank MD in
Rs 600-crore loan case

NEW DELHI, DHNS: A high-profile loan fraud case amounting to Rs 600 crore came to light on Thursday with the CBI booking Aircel promoter C Sivasankaran, his son S Saravanan, and two top public sector bank officials, including Syndicate Bank chief Melwyn Rego.

The agency, which named 38 people including 15 bank officials who worked at senior levels at IDBI Bank during 2010-14, conducted searches at 50 locations across 10 cities, including in Bengaluru, Delhi, Mumbai, Faridabad, Gandhinagar, Chennai, Belagavi, Hyderabad, Jaipur and Pune, including Rego’s residence.

The case was registered against British Virgin Islands-based Axcel Sunshine Ltd and others on the allegations of perpetrating fraud through the loan accounts of Win Wind Oy, Finland and Axcel Sunshine Ltd after receiving the money from IDBI.

Besides Sivasankaran and Rego, who was deputy managing director in IDBI Bank when the loan was sanctioned, others named in the FIR include managing director and CEO of Indian Bank Kishor Kharat (who was managing director and CEO of IDBI Bank) and then chairman-cum-managing director of IDBI Bank M S Raghavan.

“It is a case of alleged fraud on the bank by then executives of the bank, then promoters of the group and the companies. It was alleged that the Finland-based company was sanctioned loan by IDBI in October 2010 to the extent of Euro 52 million (Rs 322.40 crore). The performance of the said company showed stress and it was eventually granted voluntary bankruptcy by a Court in Finland in October 2013,” a CBI spokesperson said.

Another loan of $83 million (Rs 523 crore) was sanctioned by IDBI to the British Virgin Island-based company in February-March 2014. This was used for repaying loans of other companies belonging to Sivasankaran in “flagrant violation of the guidelines of RBI on foreign investments”.

The loans were granted to these companies by IDBI Bank at its highest decision making level comprising the senior-most management and even independent directors, “disregarding the existing guidelines, instructions and procedures”. Subsequently, various conditions were relaxed or all together ignored leading to a loss of around Rs 600 crore to the bank.

Deputy managing director IDBI G M Yadwadkar, former independent directors of IDBI P S Shenoy, S Ravi, Ninad Karpe, executive director Subroto Gupta, former executive directors Viney Kumar and B Ravindra Nath, general managers K Biju George, Venkata Krishnan, G Suneel Babu and then regional manager Manoj Alex were also booked.

Man hangs self,
relative alleges police harassment

Bengaluru: A 21-year-old man reportedly committed suicide by hanging himself at his house in Bagalgunte on Wednesday.

The police suspect that the victim, Ramachandra, a Tempo Traveller driver attached to a private travel agency, may have taken the extreme step due to depression.

According to the police, Ramachandra and his mother, Jayamma, were living in Bagalgunte near the Maramma temple. He was not going to work for the past 15 days for reasons unknown, the police said.

On Wednesday, around lunch time, he asked his mother to buy curd. Even as she left for the shop, he hanged himself from a ceiling hook. When Jayamma returned, the door was locked and she peeped through the window and found Ramachandra hanging. She informed the neighbours, who alerted the police. They rushed him to hospital, but the doctors declared him brought dead, the police said. However, one of the victim’s relatives claimed that Ramachandra killed himself due to harassment by the police.

‘Victim was threatened’

He said another relative of Ramachandra, who resides in Rajagopalanagar and was accused in a case, had gone absconding. The police, in spite of tracing him, picked up Ramachandra and asked him to give his whereabouts, and said they would file false cases against him if he didn’t oblige.

However, the relative has not lodged any complaint with the police.

The Bagalgunte police have registered a case of unnatural death based on Ramachandra mother’s complaint and are investigating further.

Woman dies at hospital

In a separate incident, a 36-year-old woman died at a hospital, where she had been admitted five days ago after she hanged herself at her house at Defence Colony in Bagalgunte.

The victim, Latha, a homemaker, was the wife of Thamme Gowda, a supervisor at a garments factory.

According to the police, she hanged herself at her
house from a ceiling fan on April 20. But she was rescued and was
admitted to the Sapthagiri Hospital, where she was
undergoing treatment, the added.

On Wednesday, she stopped responding to the treatment and died, the police said.

They are yet to ascertain the reason behind her taking the extreme step, but suspect that she was depressed and so decided to end her life.

The Bagalgunte police have registered a case of unnatural death and are investigating further.

Man convicted of sexually assaulting minor girl

Bengaluru: The 55th City Civil Court on Thursday convicted a 32-year-old man under the Protection of Children from Sexual Offences (POCSO) and sentenced him to 10 years’ rigorous imprisonment and slapped a fine of Rs 6,500.

The suspect, Parthiban, was arrested by the Srirampura police in May 2017 for sexually assaulting a minor girl at his house.

According to the police, Parthiban, owner of a scrap shop, was living-in with the victim’s mother. The victim and her younger sister moved into Parthiban house after the death of their father. While the victim’s mother would work in the scrap shop, Parthiban would drop and pick up the children from school.

Soon, Parthiban began to sexually assault the victim and warned her not reveal it to anyone. Unable to bear the torture, the victim informed her mother, who filed a complaint with the Srirampura police.

Based on her complaint, the police arrested Parthiban.

Kannada serial director
cheated of Rs 33 lakh by media employee

Bengaluru, DHNS: A Kannada serial director has been cheated of Rs 33 lakh by a senior
employee of a television channel, situated on Rhenius Street in Richmond Town.

The JP Nagar police have taken up a cheating case and identified the suspect as Chandan Yadav (45), the marketing head of the channel, who according to the police remains elusive.

The victim, Naveen Roy, had approached several big names in the television industry to get a prime-time slot for his comedy serial ‘Athe Hange, Sose Hinge’.

When Naveen approached Udaya TV office in Chennai for the same in August 2016, it gave a contact of Yadav, who worked for a renowned television news channel in Bengaluru.

Naveen later got in touch with Yadav for his inquiries on the slot.

Yadav claiming to be an influential person in the media industry, promised Naveen the prime-time slots on the channel.

Yadav then started collecting lakhs of rupees from Naveen and asked him to start shooting for his serial.

Naveen began producing and directing the serial and roped in several artists.

As the serial was ready for the telecast, Naveen contacted Yadav, who asked him to be patient and wait. By the time, Yadav had already made Naveen cough up around Rs 32 lakh and an iPhone.

When Naveen could not get the slot, he demanded his money back to which Yadav gave lame excuses and sometimes did not even respond to his calls.

On April 21, Naveen approached the police and registered a case.
Further investigations are underway.

12 in dock over jobs for preachers in army

NEW DELHI: Recruiting religious teaches in the army had turned into a way for some army officials to mint money, but they have landed in trouble after an inquiry was conducted into anonymous complaints about the issue.

However, it was an easy task for the internal investigators in the army to pinpoint the suspects as most of the monetary transactions involved took place through bank accounts.

A bribe of at least Rs 15.55 lakh was paid by nine people who managed to get the job in 2013.

A CBI investigation is on after the agency registered a case on the basis of a complaint from General Office Commanding (Hyderabad) N Srinivas Rao.

12 armyment, including nine who were recruited as religious teachers, as well as five private persons are in the dock.

Religious teachers are inducted into the army for spiritual activities in the unit and to deliver spiritual motivation to the troops.

The CBI said that the army approached them with a complaint only last Thursday “due to conduct of in-house inquiry which involved summoning civilian witnesses and getting details of bank accounts of all the accused from various parts of the country”.

Recruitment trouble

The recruitment process was dogged with trouble from the beginning, after Subedar M N Tripathi, a religious teacher in the army, was removed from the interview panel after his name cropped up in an input on him indulging in “unfair practices by approaching candidates”.

In his place, another religious teacher, Satya Prakash, was appointed. However, the complaint, which makes part of the FIR said Tripathi did not let the opportunity go and managed to rope in Prakash and another religious teacher, M K Pandey, to influence the process.

Tripathi is said to have given Prakash a list of 20 candidates to be favoured during the recruitment process “by asking simple questions and giving maximum marks”.

Bribe collection

According to the CBI, Tripathi used the bank accounts of his five neighbours in Uttar Pradesh’s Gorakhpur to collect bribe amount.

Pandey used Tripathi’s help to reach out to prospective candidates while the internal army inquiry is said to have found that Prakash collected Rs 14 lakh in his bank account.

FD worth Rs 143 cr of Kanishk Gold attached

CHENNAI, DHNS: Continuing with its action, the ED on Thursday attached fixed deposits worth Rs 143 crore of Kanishk Gold, which is accused of defrauding several banks to the tune of Rs 824 crores.

The ED action came two days after it froze land, buildings, along with a plant, and machinery worth Rs 48 crore in Kancheepuram district. The ED office here issued a provisional order for attachment of the FDs under the Prevention of Money Laundering Act.

The agency said it found that an amount of Rs 300 crore was sent by the firm to a jewellers account and there was allegedly “no evidence” of receipt of gold sale in lieu of the said payment.


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