The Enforcement Directorate (ED) has attached properties worth Rs 5 crore belonging to accused persons in the Rs 100-crore Syndicate Bank fraud case.
According to a press release by the ED, a complaint was filed last month before a special court against Vijay Akkash and 18 others in the Syndicate Bank fraud case, and the court had taken cognizance of the same on April 1. The Central Crime Branch had investigated and charge-sheeted the case.
The scam involved closing fixed deposits worth Rs 100 crore belonging to the Karnataka State Agricultural Marketing Board using fake/fabricated documents of KSAMB, such as board resolution, ID card, letterhead, etc., and transferring the same to fake current accounts opened for perpetrating the fraud, as per the ED’s release.