CBI Arrests Two Foreigners in Chennai Port Trust Fraud Case
The Central Bureau of Investigation (CBI) arrested two foreigners in connection with its investigation into a case of fraudulent seizure and withdrawal of term deposits belonging to the Chennai Port Trust (CPT).
Those arrested were identified as Boussiomo Steve Bertrand Yannick from Cameron and Musasa Ilunga Lucien alias Bo Bo from Congo. The CBI had previously arrested nine people in the case.
“The CBI carried out search operations in Ramapuram, Chennai and arrested two foreign nationals. They were said to have held student visas but could not produce original passports. During the search, a laptop, cell phones, camera, printer and some documents relating to Kamarajar Port Trust, Chennai Port Trust, fixed bank deposits and logos of various government organizations in India were found ” , said the CBI spokesperson.
The CBI had registered a case in this case on July 31 of last year based on a complaint by the Bank of India. The FIR indicted the director of the Koyambedu branch of Indian Bank in Chennai, with the exception of two individuals, on allegations of fraud, forgery and identity theft with the intent to deceive the bank to the tune of over 100 crore rupees.
It was further alleged that a loss in the amount of Rs 45.40 crore was caused to the Indian Bank by the seizure of several term deposits (term deposits) created in the name of the Chennai Port Trust and also by transferring / withdrawing said amount through various accounts.
“It was also alleged that the defendants conspiring between them applied to the Indian Bank and the Chennai Port Trust for the opening of term deposits in the Koyembedu branch and, as a result, 45 term deposits were created between March 2020 and May 2020. One of the accused allegedly impersonated the deputy director (finance) of the Chennai Port Trust (CPT) and opened a fake current account in the name of the CPT at the Koyambedu branch of the Indian Bank ” , said the spokesperson.
According to the CBI, the bank created term deposit receipts (bonds) against investments made by the CPT and the bonds were received directly by the defendant from the bank. Instead of handing over the original bonds to the CPT, the accused created duplicate bonds and submitted the forged bonds to the CPT, the CBI said.
The investigative agency further alleged that the defendants pre-closed the term deposits one after another within days of the creation of the term deposits. The money received from the pre-closing of the term deposits would have been credited to the false current account created in the name of the CPT by the accused and subsequently transferred to 34 different accounts. This money was withdrawn by 27 account holders and handed over to the accused, the CBI added.
“A total of Rs 100.57 crore (approx.) Was transferred from the CPT in five investments, against which 45 term deposits of varying amounts were created. Of the total amount invested, Rs 55.19 crore could be saved after fraud detection and the remaining Rs. 45.40.65.000/- were swindled by the accused. We had previously arrested nine people in this case and all are in police custody. Research was also carried out earlier in 22 locations spread across Chennai, Tirunelveli, Tuticorin and Nagercoil, ”the CBI spokesperson said.