CBI arressts Chennai port trust official in Rs 45.40 cr FD scam

CBI has arrested an Assistant Superintendent of Chennai Port Trust (CPT), Chennai in an on-going investigation of a case related to an alleged Bank fraud.  The accused  S.Raghu Bernard, Assistant Superintendent, Chennai Port Trust was produced before the Special Judge, CBI Cases, Chennai and remanded to Judicial custody on Tuesday. According to information, a case was registered on July on 31,.2020 on a complaint from Indian Bank, Chennai against two private persons; Branch Manager, Indian Bank, Koyambedu Branch, Chennai and other unknown persons on the allegations of committing fraud, forgery, impersonation with the intention to cheat the bank. It was further alleged that a loss to the tune of Rs. 45,40,65,000 was caused to Indian Bank by way of foreclosing/pre-closing of several term deposits (fixed deposits) created in the name of Chennai Port Trust (CPT) and also transferring/withdrawing the said amount through various accounts etc.45 Term deposits (FD) were created during the period between March 2020 and May 2020, it said and added that  the accused made duplicate bonds and submitted the forged bonds to CPT.

It is said that having original bonds in possession, the accused allegedly presented the same before Indian Bank, Koyambedu Branch and pre-closed the Term Deposits one after another within few days of creation of term deposits. The money received from the pre-closure of Term deposits was allegedly credited into the fake current account created in the name of CPT by the accused and subsequently transferred to around 34 different accounts. This money was withdrawn by the 27 account holders and handed over to the accused persons. CPT was continuously investing in term deposits and the same was allegedly pre-closed by the accused one after another, after the bonds were created by the Bank. In that process a total of Rs. 100.57 crore (approx.) was transferred from CPT in 5 investments against which 45 Term Deposits of different amounts were created. Out of the total amount invested, Rs. 55.19 crore could be freezed after the detection of the fraud and remaining Rs. 45,40,65,000/- were swindled by the accused. The agency have arrested 17 persons including two foreign nationals so far. Three chargesheets have also been filed against 23 accused.