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Union Bank files CBI Complaint against Rs 94.73 Crore Scam


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According to the Union Bank of India, a complaint was filed on Friday regarding an alleged case of siphoning Rs 94.73 crore of government money by six officials of the bank. As a result, the bank has suspended three branch officials pending further inquiry. The bank has also filed a complaint with the Central Bureau of Investigation (CBI) in response to the case.

The incident involves the Karnataka Maharshi Valmiki Scheduled Tribe Development Corporation, which diverted funds amounting to Rs 94.73 crore. The bank has acknowledged the fraudulent transactions that occurred at its M.G. Road Branch in Bengaluru and has promptly declared them as fraudulent. To ensure a thorough investigation and identify the culprits, the bank has filed a formal complaint with the CBI.

The police have named several bank officials in the case, including Manimekhalai, Nitesh Ranja, Rama Subramaniam, Sanjay Rudra, Pankaj Dwivedi, and Suchishitha Raul. The FIR states that between March 4 and May 21, Rs 187.33 crore was deposited in the corporation’s account from the state treasury. The corporation later discovered that forged signatures were used to illegally transfer Rs 94,73,08,500 to various accounts. Furthermore, the corporation did not receive any notification of these transactions via SMS or the registered email ID.

There is a demand from the BJP for the Congress government in the state to hand over the case to the CBI. However, Home Minister G Parameshwara has stated that the case will not be transferred to the CBI from the state’s end. He explained that if a bank fraud exceeds Rs 100 crore, the CBI typically handles the case. Currently, the Criminal Investigation Department (CID) is investigating the matter, and it will determine whether the misappropriation exceeds Rs 100 crore. The state government does not plan to transfer the case to the CBI at this time.

2 Comments

  1. The version of Minister that typically CBI handles the cases beyond 100 crores is not correct
    The CBI is entitled to handle grave nature of frauds irrespective of amount I opine

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