The Central Bureau of Investigation (CBI) on Tuesday arrested two foreigners in connection with fraudulent foreclosure of Chennai Port Trust’s fixed deposits. It has earlier arrested nine people in the case.
The two, Boussiomo Steve Bertrand Yannick and Musasa Ilunga Lucien, are from Cameroon and Congo. The CBI has found they were living in India on student visas and did not possess their original passports. During the searches, the CBI found documents related to Kamarajar Port Trust, Chennai Port Trust (CPT), Bank Fixed Deposits, etc.
The CBI in July last year registered the bank fraud case against public servants and private individuals based on a complaint from Indian Bank in Chennai over alleged fraud, and impersonation to cheat the bank of roughly ₹100.57 crore.
The bank reported a loss of around ₹45.4 crore due to the foreclosing of several fixed deposits and withdrawal of the amount through several accounts. These deposits had been created in the name of CPT.
In a statement, the CBI said the accused opened term deposits in the Koyambedu Branch, Indian Bank, and accordingly, 45 fixed deposits were created between March 2020 and May 2020. One of the accused allegedly impersonated himself as deputy director (finance) of CPT and opened a fake current account.
After the receipt of investment from the CPT every time, the bank created term deposit receipts or bonds against the investment. The bonds were received by the accused from the bank directly. “Instead of delivering the original bonds to CPT, the accused made duplicate bonds and submitted the forged bonds to CPT,” said the statement.
Having the original bonds, the accused presented them before the bank and pre-closed the term deposits one after another within a few days of their creation. The money received from the pre-closure of term deposits was allegedly credited into the fake current account created in the name of CPT by the accused and subsequently transferred to 34 different accounts.
This money was withdrawn by the 27 account holders and handed over to the accused persons. CPT was continuously investing in term deposits and the same was allegedly pre-closed by the accused one after another after the bonds were created.
Around ₹100.57 crore was transferred from CPT in five investments against which 45 term deposits of different amounts were created. Out of the amount invested, ₹55.19 crore could be frozen, and the remaining ₹45.40 crore has been swindled by the accused.