Syndicate Bank fraud: CBI conducts raids at 10 locations
The Central Bureau of Investigation (CBI) on Tuesday carried out searches at 10 locations spread across Delhi, Jaipur and Udaipur in connection with alleged fraud of Rs 1,000 crore in government-run Syndicate Bank. The agency acted soon after they received a complaint from the bank.
“It was alleged that few private persons in connivance with the Bank officials committed a fraud of Rs 1000 crore by resorting to discounting of fake cheques, bills against fake LCs and arranging over-draft limit against non-existent LIC Policies,” the official said.
Sources in CBI said that the searches were conducted at the residences and official premises of the then General Manager, Syndicate bank, Satish Kumar Goyal and four other senior executives of the bank along with private individuals allegedly involved in the scam.
However, the official refused to divulge the details as the search operation was still on. All five officials have already been suspended by the Bank.