CBI arrests absconding man in bank fraud case from Jaipur

At the request of the CBI, immigration authorities detained him on arrival at Jaipur Airport from the United Arab Emirates and handed him over to the local police. He was arrested based on a non-bailable warrant.

The Central Bureau of Investigation (CBI) has arrested Sharad Gupta, an accused in a bank fraud case, in Jaipur.At the request of the CBI, the immigration authorities detained him on arrival at Jaipur Airport from the United Arab Emirates and handed him over to the local police. He was arrested based on a non-bailable warrant.The CBI has registered three cases against Gupta, for bank fraud amounting to Rs.60 crore (approx). It was alleged that the said accused had fraudulently obtained various credit facilities from Union Bank of India, Mid Corporate, Ghaziabad Branch, Kaushambi, during 2017 in the name of some companies.ALSO READ: CBI books Gurugram's Ambience Mall owner for defrauding J&K Bank of Rs 289 crore It was further alleged that after availing the loan, the accused did not deposit the sale proceeds of the stock in the bank account and diverted the sale proceeds to defraud the bank. The accused was absconding before registration of the case by the CBI.