Central Bureau of Investigation (CBI) on Thursday conducted searches at five locations in Faridkot district’s Jaitu subdivision in connection with an alleged fraud case wherein coins worth ₹11 crore had gone missing from the vaults of a State Bank of India (SBI) branch in Rajasthan’s Karauli.
The alleged fraud was detected during the counting of coins at the SBI’s Mehandipur Balaji branch in Karauli in August 2021.
The searches were carried out at the residences of five Jaitu-based traders -- Monu Baba of Bathinda Road, Tarun Jindal of Jindal Colony, Sahil Garg of Navi Abadi, Lavish Jindal and Nitin Jindal, both residents of Teli Mohala -- as a part of the ongoing investigation in the case.
The CBI team left after conducting investigation for five hours at the residences of the traders. As per the officials privy to the development, with the alleged connivance with bank staffers, five traders of Jaitu brought these missing coins and used them for betting in IPL matches and also invested in the share market.
“After these coins went missing, suspected transactions were made to the accounts of these traders from SBI’s Mehndipur Balaji branch. CBI has sought an explanation from these traders on the transactions,” they added.
{{/usCountry}}“After these coins went missing, suspected transactions were made to the accounts of these traders from SBI’s Mehndipur Balaji branch. CBI has sought an explanation from these traders on the transactions,” they added.
{{/usCountry}}Faridkot senior superintendent of police Harjeet Singh said a CBI team had visited the residences of some people regarding an ongoing investigation and served them summons to appear before the agency in person for further investigation.
The matter came to light after the SBI branch decided to count the money after a preliminary inquiry indicated discrepancy in its cash reserve in August 2021.
The counting was outsourced to a private vendor, which revealed that coins worth over ₹11 crore were missing from the branch.
CBI had registered a case on April 13, 2022, in compliance with orders of Rajasthan High Court, and taken over the investigation of the case which was earlier registered at Todabhim police station, Karauli, Rajasthan.