CBI arrests Singapore-based accused from Delhi in ₹32-crore bank fraud case

The Central Bureau of Investigation (CBI) arrested a Singapore resident for his alleged involvement in a ₹31.60 crore ‘bank fraud’ case.

Acting on a tip-off that accused Rajesh Bothra had come to India and was staying at a hotel in Aero City, the agency picked him up from there.

Following a complaint from the Punjab National Bank, it had earlier registered a case against Frost Infrastructure and Energy Private Limited (FIEL) and its directors.

The agency found that Mr. Bothra had played an active role in the conspiracy with FIEL and its directors by providing bogus/forged Bills of Lading falsely showing sale-purchase transactions of FIEL with FAREAST and Gulf Distribution Limited. The bills were submitted by FIEL to allegedly siphon off letter-of-credit proceeds.

“FAREAST and Gulf Distribution Limited were actually controlled and operated by Rajesh Bothra and no actual business or movement of goods took place as falsely shown in the forged Bills of Lading,” said the CBI.

Mr. Bothra also figures as an accused in some other CBI cases in which he has been chargesheeted along with other accused persons. He never joined investigation in those cases nor did he turn up during the trial.