CBI registers fraud case against former Oriental Bank execs

A case of fraud was on Tuesday registered against three persons, including former senior executives of the Oriental Bank of Commerce (OBC) here, for allegedly trying to cause a loss of about Rs. 3.80 crore to the bank.

CBI officials said that a case has been registered against Rakesh Kumar Gupta, the then deputy general manager of OBC’s Regional Office at Sardarpura, A.K. Sharma, former chief manager of OBC’s Sojati Gate Branch, and Karni Singh, director of antiquity handicrafts.

It is alleged that the two bank officials abused their official position and entered into a criminal conspiracy with Singh for providing cash credit limit of Rs. 3.80 crore between 2009 and 2013 and a term loan of Rs. 2.5 crore against bank norms without checking and evaluating the antecedents of the firm.

“An alleged loss of Rs. 3.80 crore was caused to the bank,” said a release issued by CBI.

Searches were conducted on Tuesday at the residential and official premises of the accused persons at six places: two each in Jodhpur, Haryana’s Gurgaon and Raipur in Chhattisgarh.

The incriminating documents recovered during the searches are being scrutinised, the release added.