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MANGALURU: Two keepers of the law seem to have given skulduggery a new dimension. Drawn by the prospect of making some big bucks, they quietly sold off a luxury car which was seized in connection with a fraud case. But wait! The long arm of the law did catch up with them too.
Deputy Commissioner of Police (Crime and Traffic) Vinay A Gaonkar told TNSE that the two officers Police Inspector K K Ramakrishna, and Police Sub-Inspector Kabbal Raj were posted with the crime branch in Mangaluru when they arrested three Kerala-based businessmen for allegedly cheating several people in Dakshina Kannada in a ponzi scheme.
Mangaluru: Car in police possession missing - CCB officer s involvement suspected
Tue, Feb 02 2021 12:02:00 PM
Daijiworld Media Network - Mangaluru (SP)
Mangaluru, Feb 2: A luxury car worth about Rs 50 lac that had been seized by the city police reportedly has been sold. The car is now reported missing. It had been taken into custody from Delhi-based persons accused in a cheating case, along with two other cars.
The senior officials, taking serious note of the incident, have asked the car to be produced forthwith.
Three persons from Kerala had set up their Eliya Construction and Builders Pvt Ltd at Udane in Kadaba taluk. They had offered to double the investment and collected over ten crore rupees. After the investors complained to the police, the accused had fled from there and opened an office in the city.
Bank fraud: ED seizes gold, jewellery worth over Rs 4-crore after raids in TN
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Last Updated: Dec 31, 2020, 07:49 PM IST
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Synopsis
The ED case is based on a 2018 FIR of the Central Bureau of Investigation (CBI) against Cethar Ltd, Trichy, and others who allegedly availed credit facilities to the tune of Rs 1,340 crore and systematically committed fraud and cheating of the Indian Bank and other banks under a consortium.
The ED said its probe found that a huge part of loan amount sanctioned by the consortium of banks as working capital was siphoned off and diverted by Cethar Ltd, its chairman and its managing director to their subsidiaries, family members and various companies as bad debts.