CBI arrests absconding accused in Rs 1.18 cr bank fraud case after over a decade

New Delhi, July 24 (SocialNews.XYZ) The Central Bureau of Investigation (CBI) on Thursday arrested a long-time absconder, Bablu alias Ravindra Yadav, in connection with a Rs 1.18 crore bank fraud case registered in 2011.

The accused was apprehended from Gulawati in Bulandshahar district of Uttar Pradesh after evading arrest for nearly two years.

The case stems from a complaint filed by the Assistant General Manager of the State Bank of India, Meerut, which alleged that Nawal Kishore Gupta, then Branch Manager of Punjab National Bank (PNB), Sikandrabad, along with private individuals, had orchestrated a fraudulent scheme in 2011.

The accused reportedly opened fake current accounts using forged documents, including voter ID, PAN cards, and rent agreements, to siphon off Rs 1.18 crore.

Following an investigation, the CBI filed a chargesheet on August 30, 2013, naming Nawal Kishore Gupta, Devraj (a security guard at PNB), Bablu alias Ravindra Yadav, and Manoj as accused in the fraud and diversion of bank funds. On December 20, 2023, the Special CBI Court in Ghaziabad convicted three of the accused—Gupta, Devraj, and Manoj—sentencing them to five years of imprisonment each.

However, Bablu failed to appear for the judgment and was declared a Proclaimed Offender on the same day. A standing warrant was subsequently issued against him.

The CBI’s Anti-Corruption Branch (ACB) in Ghaziabad continued its efforts to trace the fugitive, eventually locating and arresting him today. Bablu was produced before the Special Judge for CBI cases in Ghaziabad and has been remanded to judicial custody.

The arrest underscores CBI's commitment to tracking down absconding offenders in long-pending corruption and financial fraud cases, even after years of evasion.

Source: IANS