CBI files case against bank official, two others for fraud

The CBI has registered a case against a former Union Bank of India official in Bangalore and two others for allegedly committing fraud to the tune of Rs 11 crores.

The trio, including a former branch manager of Union Bank of India, Avenue road branch in Bangalore along with chairman and director of a private company, were alleged to have fraudulently availed credit facilities and presented fake supplier bills.

"They committed breach of trust, cheating, forgery, criminal misconduct and used the forged documents as genuine to cause wrongful gain for themselves and wrongful loss to the bank to the tune of Rs 11 crores, " the CBI spokesperson said here in a release on Monday.

The agency after taking the opinion by the Advisory Board for Banking, Commercial and Financial Frauds, took up the case under relevant sections of IPC against the trio and few others.

CBI officials conducted searches on the official and residential premises of the accused at Bangalore, Jabalpur, Kolkata and Doddaballapur (Karnatka) and recovered incriminating documents.