CBI registers case against 4 former Syndicate Bank officials for fraud

25 March, New Delhi

A case has been registered against four former officials of a Syndicate Bank and six others in connection with an alleged fraud of Rs 209 crore in two branches of the bank in Rajasthan, a CBI spokesperson said.

He said the case was registered under relevant sections of Indian Penal Code and Prevention of Corruption Act, following a complaint from Syndicate Bank against two fomer AGMs and two fomer Chief Managers related to a fraud of Rs 209 cr in its two branches at Jaipur and Udaipur.

“It was alleged in the complaint that the accused in criminal conspiracy with each other availed home loans/ credit facilities from both the branches of the Bank on the basis of forged and fabricated documents. The funds disbursed by the Bank were diverted and fraudulently siphoned off to the companies owned by accused persons, thereby causing an alleged loss to the bank,” the spokesperson said.

He said that searches were conducted today at four places including Jaipur, Ajmer at the residence/ official premises of the accused persons.

“It was also informed that two accused are still in judicial custody and other one accused is on bail on medical grounds in another case which was registered during March last and chargesheeted by CBI,” the spokesperson said.