The Central Bureau of Investigation (CBI) on Wednesday arrested an absconding accused, Krishnamurti Raghunath, from Bengaluru in connection with multiple bank fraud cases registered in Kolkata.
Accused Was Absconding Since 2005
According to the CBI, Krishnamurti Raghunath had been evading arrest for nearly 20 years. He was declared an absconder after remaining untraceable since 2005 and was frequently changing his place of residence to avoid legal action.
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Former Bank Manager Accused of Fraud
The accused was working as a Branch Manager at Bharat Overseas Bank Ltd., Burrabazar Branch, Kolkata. Bharat Overseas Bank later merged with Indian Overseas Bank.
The CBI said that Raghunath, along with other accused persons, entered into a criminal conspiracy and opened fake current accounts in the names of fictitious firms. Through these accounts, bank funds were misappropriated, causing a wrongful loss of around ₹38.25 lakh to the bank.
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CBI has already filed charge sheets in three bank fraud cases against the accused in Kolkata. However, Raghunath managed to evade arrest for years despite the cases being under investigation.
The arrest was made after a week-long operation conducted across three states — West Bengal, Maharashtra, and Karnataka. The CBI acted on a combination of human intelligence and technical surveillance to track the accused’s movements and finally nab him in Bengaluru.
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After his arrest, Krishnamurti Raghunath is being produced before a local court in Bengaluru. The CBI will seek transit remand, following which he will be brought to Kolkata. He is scheduled to be produced before the competent court in Kolkata on February 6, 2026, officials said.
The CBI has stated that the investigation in the bank fraud cases is continuing, and further action will be taken as per law.
