Mumbai, Feb 06: The Central Bureau of Investigation (CBI) has arrested an accused who had allegedly been absconding for more than 20 years in three bank fraud cases.
Agency sources said the accused was a former branch manager of a bank and was arrested by the CBI based on human intelligence and technical inputs after a week-long operation spanning three states, including Maharashtra, West Bengal and Karnataka.
Alleged fraud at Kolkata branch
According to the CBI, the accused, K. Raghunath, the then Branch Manager of Bharat Overseas Bank Ltd. (now Indian Overseas Bank), Burrabazar Branch, Kolkata, in criminal conspiracy with others, allegedly created false current accounts in the names of fictitious firms and misappropriated bank funds, causing a wrongful loss of approximately Rs 38.25 lakh to the bank.
The accused was charge-sheeted in three bank fraud cases in Kolkata and had been evading the process of law since 2005, frequently changing his places of residence.
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Arrest and court proceedings
He was arrested on Thursday from Bengaluru by the CBI based on human intelligence and technical inputs after a week-long operation spanning Maharashtra, West Bengal and Karnataka.
He was produced before a local court in Bengaluru, and after obtaining transit remand, was brought to Kolkata and produced before the competent court on Friday, officials said.
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