Man who fled after bank fraud lands in Goa for holiday, arrested 20 years later
The accused, now in is sixties, allegedly played the main role in defrauding Bank of Baroda of Rs 3.77 crores in 1997.india Updated: May 09, 2017 21:51 IST
A man who fled India after a Rs 3.77-crore bank fraud and acquired a new identity in Canada was arrested when he landed in Goa for a vacation, 20 years after the alleged crime in Gujarat, CBI officials said on Tuesday.
The man has been identified as Vinay Kadam, who was absconding under his new name Regan Rollin.
The accused, now in is sixties, allegedly played the main role in defrauding Bank of Baroda of Rs 3.77 crores in 1997.
Kadam, according to CBI, was director of Spav Fisheries in Mumbai when he helped one Rajendrasingh Mansingh Raolji, the then director of Ahmedabad-based real estate company Mira Builders, to defraud the bank.
“...The accused (Raolji), along with other private individuals, set up 6-7 fake companies which had zero bank balance. The dummy directors of the companies issued 31 cheques worth 3.77 crore rupees and the money was withdrawn with active connivance of some bank officials,” CBI spokesperson RK Gaur said.
“A total of 28 people were chargesheeted on September 25, 2000 including Kadam”.
Sources said the CBI first issued a look out circular and then requested Interpol to issue a red-corner notice against Kadam. However, the accused was untraceable till he landed in Goa on Monday.