The Central Bureau of Investigation (CBI) has launched an investigation into a case involving the fraudulent conversion of a Bank of Baroda account. The account, belonging to a man currently residing in the United States, was unlawfully turned into a joint account with an accused individual from Kalbadevi, Mumbai, without the original account holder’s consent.
The account was later transferred to several branches, including those in Zaveri Bazaar, Badlapur, and Nandanvan in Nagpur, through an allegedly forged application. According to CBI sources, Rs 37.50 lakh was withdrawn from the account between August 2023 and February 2024 using cheques issued to the accused from the Nandanvan branch.
The CBI had initiated a preliminary enquiry into the matter in November 2023. During this enquiry, the original account holder, a California resident since 2000, was questioned via video conferencing. He confirmed that he had not visited India since October 2019, a claim supported by his passport details shared through WhatsApp.
The account in question was opened in 1987 at the Siyaganj branch of Bank of Baroda in Indore as an individual account. Regular deposits and withdrawals were made until 2019. However, from 2020 to January 2023, only deposits were made. On August 8, 2023, the account was converted into a joint account without the original account holder’s knowledge or approval. The account holder also confirmed that he did not know the accused person and had no relationship with him.
In addition, a senior official from the Zaveri Bazaar branch of the bank was questioned by the CBI. The official confirmed that both account holders must be present in the branch for any conversion of an individual account into a joint account, suggesting that the conversion was fraudulent.
