Fake signatures used to siphon off Rs3.25 crore

A cheating case filed with the Navrangpura police has brought to light an incident where a proprietor of an import-export firm used fake signature to dupe a Mumbai-based Pharmaceutical company and withdraw Rs3.25 crore.

A complaint regarding the same was filed by one John Fernandis, the bank manager of Bank of India at Swastik Cross Roads.

In his complaint Fernandis mentioned that one Narayan Chaudhary had withdrawn Rs3.25 crore from the bank by using fake signature. Chaudhary is a partner in a firm Aditya Export Imports and have also allegedly cheated his partner Shantilal Jain.  The police had recorded Jain's statement and primary investigations have revealed that he may not have had a hand in the crime.

The police have also seized two bank accounts of Chaudhary with Rs1 crore and Rs25 lakhs in each.  "We are yet to trace Rs2 crore that was transferred to some other bank account," a police source said. 

The police are yet to nab Chaudhary. Primary police investigations have also revealed that Chaudhary transferred the amount from the Mumbai-based pharmaceutical company's account to three different bank accounts. The scam came to light only when the Mumbai branch of the bank informed the Ahmedabad branch about the fake signature.