Investigations still on SBS fraud attempt, says Crime officials

GANGTOK, November 23: Overruling the speculations of high hand involvement in the recent case of multi-crore scam, the Criminal Investigation Division wing of Sikkim Police today gave a clean chit to State Bank of Sikkim for not having any idea on the whole economic ordeal.
Addressing a press conference here at Police Head quarter on Friday, the Senior Superintendent of Police, Crime Branch ST Bhutia said, although the investigation is still on, there has been no substantiation of any bank employees or any other high profile people of Sikkim involved in the case.
It may be recalled here that the CID wing of Sikkim police had arrested three persons including one local in an attempt to fraud State Bank of Sikkim amounting to rupees Rs. 80 crores.
After a thorough investigation, the CID team has found that one of the alleged arrested in the money laundering case, Gautam Das is still wanted at Birpara Police station for the similar charge. The documents confiscated by the CID team from one of the hotels in the Capital where the culprits were staying reveal that a similar proposal had been put at Central Bank of India, Birpara Branch and also at Punjab Sindh Bank, Asansol amounting to Rs 100 crores and Rs. 97 crores respectively in the name of Godraise International Ltd.
The team has also found three fake stamps of the forged company from the hotel room.
The CID super informed the master mind behind the whole economic offence Gautam Das had opened an account with the fake name Amit Das in the said banks.
After the investigation it was learnt that the money launders were able to withdraw Rs 7 lakhs from Punjab Sindh Bank but could not make any transactions from CBI, Birpara.
The fled money launders then made SBS a soft target using the same modus operandi. Four persons Sunil Rai, Subroto Banerjee, Gautam Das and Sudip Malik have been arrested under sections 420/423, 120 B and 5(1) 34 of the Indian Penal Code for fraud and submission of forged documents.
“We are still interrogating the arrested four persons and are hopeful that they will spill more beans on the case,” Mr. Bhutia told reporters.

Four held for State Bank of Sikkim overdraft fraud

Gangtok, Nov. 17: Four persons have been arrested by Criminal Investigation Division (CID) of Sikkim police with the crime fighting agency nipping in the bud an outrageous ploy to dupe the State-owned State Bank of Sikkim with an initial amount of Rs. 85 crores.
Sunil Rai, Subroto Banerjee, Gautam Das and Sudip Malik have been arrested under sections 420/423/120 B and other sections of IPC for fraud and submission of forged documents, said Senior Superintendent of Police (Crime Branch) ST Bhutia to reporters here today afternoon.
The CID had started investigations into the case after credible information was received and a case registered against the above four accused even as investigations were being launched. The four were arrested from the Capital in a swoop which continued till late into the morning today.
While Mr. Bhutia said that it was a case of fraud and also an ‘economic offence’, he said more details could not be provided since investigations are still on and the case is in a preliminary stage.
Though nothing much came from the officials on the investigations so far, sources inform that the four accused had tried to withdraw an amount worth Rs. 85 crores from the State Bank of Sikkim (SBS) which would be paid later.
The modus operandi so far reveal that the four cheques were seized from the arrested persons include three cheques worth Rs. 25 crores each while the other one was worth Rs. 10 crores.
One of the cheques for Rs. 25 crores was signed by Sunil Rai, another two worth Rs. 50 crores (Rs. 25 crores each) by the Director of Om Mantra Infra Projects Limited and one cheque worth Rs. 10 crores by United Sales, all of whom operate accounts in the State Bank of Sikkim.
It is yet to be known whether they had money worth the amount in the bank.
The cheques which were payable in favour of one person named PK Anand have been seized by the CID wing. All the cheques were to be paid back in later different dates in November 2014.
Sources also inform that some documents confiscated by the CID reveal that a proposal had been put up by one Auroma Impex, a company who had authorized Global Solutions on behalf of the parent company Excelsior Consultants and Investment company based in Coimbatore to have an understanding with the SBS.
A letter by Auroma Impex has authorized Global Solutions to provide collateral for raising of funds to the extent of Rs. 2,500 crores through International Bills of Exchange (IBOE) issued by the United States Treasury. The letter has also requested the SBS to issue a Letter of Intent (LOI) to accept as Collateral for Rs. 2500 crores on creating Line on Credit from the SBS banking source.
They have also put a term that 50 per cent of the total amount was to be returned to the provider of IBOE and the collateral was to be returned to the US treasury after 5 years and could be renewed for the next 5 years.
In another letter, Auroma Impex has authorized Subroto Banerjee and Gautam Das, partners of Global Solutions, Kolkata to introduce and capitalize on IBOE issued by US Treasury to the SBS Chairman and other high officials.
Sources reveal that those four arrested have been dropping big names even as the investigations are in the preliminary stages. They were today produced in front of chief judicial magistrate (North/East) Gangtok and were sent for police remand for four days.