CBI arrests 3 from Maharashtra in UP bank fraud case

The Central Bureau of Investigation has arrested three absconding accused in a bank fraud case in Lucknow from Maharashtra.

A CBI spokesperson said that Gaurav Sagar Gupta was arrested from Pune while Vaibhav Gupta and Usha Gupta were arrested from Mumbai. All three were produced before a court in Lucknow and were sent to judicial custody.

The CBI had registered a case on December 13, 2007 against the three arrested accused and 12 other accused, including officials of the Union Bank of India and the Central Bank of India in Lucknow, for entering into conspiracy with themselves and others in sanctioning and disbursing housing loans and CCH limits against forged and bogus documents.

He said that an alleged loss of Rs 201.59 lakh was caused to the Union Bank, and Rs 49.40 lakh to the Central Bank.

It was also alleged that eight housing loans were sanctioned from the Union Bank, three housing loans from the Central Bank, and six CCH limit/term loan from the Union Bank towards purchase of semi-built flats, but the accused diverted the loan amount.

It was also alleged that these housing loans were obtained by the accused on the strength of fake lTRs, bills of non-existing firms etc, the completion of work falsely shown and observations made regarding completion certificate in respect of sanctioned loans.

The official said that after investigation, a charge sheet was filed on in April 2010 against 15 accused including then officials of both the banks and private persons.

The three accused were evading presence before the trial court at Lucknow since filing of charge sheet against them on April 30, 2010, and it declared them proclaimed offenders and issued non-bailable warrants on October 14,2019 against them.

He said that the CBI had also registered a case on December 28, 2007 against Gaurav Sagar Gupta and unknown officials of the Punjab National Bank, Lucknow.

It was alleged that the accused, a resident of Lucknow, entered into a conspiracy with officials of the PNB and obtained housing loan of Rs 12.80 lakh on the basis of forged documents and by not repaying back the said amount, caused loss to the bank.

A charge sheet was filed against four accused in the second case in January 2010.