Bank fraud case: Two foreign nationals arrested in Chennai

CHENNAI: The Central Bureau of Investigation has arrested two more accused, both foreign nationals, in an ongoing investigation into a bank fraud in which fixed deposits of Chennai Port Trust (CPT) were fore-closed/pre-closed fraudulently.
The CBI conducted searches at Ramapuram in Chennai and arrested two foreign nationals allegedly residents of Cameroon and Cango.The arrested duo have been identified as Boussiomo Steve Bertrand Yannick of Cameroon and Musasa Ilunga Lucien of Congo.
It was also alleged that they were in India on student visas and were not in possession of original passports. During searches, a laptop, mobile phones, a camera, a printer and certain documents including those related to Kamarajar Port Trust, Chennai Port Trust, Bank Fixed Deposits and logos of different government organizations were found.
The CBI registered the instant case on July 31, 2020 on a complaint by Indian Bank, Chennai, against two private persons, branch manager of Indian Bank’s Koyambedu branch and other unknown public servants and others on the allegations of committing fraud, forgery, impersonation with the intention to cheat the bank to the tune of Rs 100.57 crore. It was further alleged that a loss to the tune of Rs 45.4 crore 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 and also transferring/withdrawing the said amount through various accounts and others.
The CBI alleged that the accused in conspiracy with each other canvassed the bank and Chennai Port Trust for opening of term deposits in the Koyembedu branch and accordingly, 45 term deposits (FD) were created during the period between March 2020 and May 2020. One of the accused allegedly impersonated himself as deputy director (finance) of CPT and opened a fake current account in the name of CPT at Koyambedu branch, Indian Bank. After the receipt of investment from the CPT on every occasion, the bank created term deposit receipts (bond) against the said investment and the said bond was received by the accused from the bank directly. Instead of delivering the original bond to CPT, the accused made duplicate bonds and submitted the forged bonds to CPT.
It was further alleged that having original bonds in possession, the accused allegedly presented the same before the Koyambedu branch and pre-closed the term deposits one after another within a 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 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 five investments against which 45 term deposits of different amounts were created. Out of the total amount invested, Rs 55.19 crore could be frozen after the detection of the fraud and remaining Rs 45.4 crore were swindled by the accused.
The CBI had earlier arrested nine of the accused people. Searches were also conducted earlier in 22 locations including in Chennai, Tirunelveli, Tuticorin and Nagercoil.