CBI Files Charge Sheet in Rs 1000 Crore Syndicate Bank Scam

The scam continued unabated through 2011-16, escaping notice during audits.

File photo of a CBI team at work. (Photo: PTI)

• CBI has on Tuesday filed a charge sheet against a former Chief Manager of Syndicate bank and four others in a Rs 1,000 crore scam committed using fake cheques, letters of credit and LIC policies to withdraw money.
  

• The charge sheet was filed in a CBI court in Jaipur against S K Gupta, the then Chief Manager of Syndicate Bank’s Udaipur branch, his wife Usha, chartered accountant Bharat Bamb, Jaipur-based businessman Shankar Khandelwal and Vipul Kaushik, who ran an NGO.
  

• CBI had registered a case in March 2016 against nine people, including bank officials besides Bamb and Khandewal, for opening 386 accounts in three branches of Syndicate Bank in Rajasthan and cheating the bank of Rs 1,000 crore.
  

(With PTI inputs.)