Enforcement Directorate Uncovers Large-Scale Bank Fraud Worth Rs 6210.7 Crore in Kolkata

The Enforcement Directorate (ED) has revealed that former chairman and MD of UCO Bank, Subodh Kumar Goel, was involved in providing large credit facilities to a Chhattisgarh-based company, leading to the siphoning off of Rs 6210.7 crore from the bank. The principal promoter of the company, Sanjay Sureka, has also been arrested. The ED investigation found that Goel received substantial illegal gratifications from the company, which were routed through shell companies and later parked into different accounts belonging to Goel and his relatives.

Key Takeaways:

• The Enforcement Directorate arrested former chairman and MD of UCO Bank, Subodh Kumar Goel, on May 16, for allegedly providing large credit facilities to a Chhattisgarh-based company.
• A total of Rs 6210.7 crore was allegedly siphoned off from the bank.
• The principal promoter of the company, Sanjay Sureka, has also been arrested.
• ED investigation revealed that Goel received substantial illegal gratifications from the company in the form of cash, immovable properties, luxury items, and hotel bookings.
• The ill-gotten money was allegedly routed through shell companies to give a facade of legitimacy.
• The proceeds of the alleged crime were later parked into different accounts belonging to Goel and his relatives.
• The case is related to an FIR lodged by the CBI into the alleged bank fraud.
• The ED investigation is ongoing, and Goel has been sent to ED custody until May 21.

Statistics:

• Rs 6210.7 crore was allegedly siphoned off from the bank.
• The investigation revealed that Goel received substantial illegal gratifications from the company in the form of cash, immovable properties, luxury items, and hotel bookings.

Sources:

• Enforcement Directorate (as cited in The Times of India report)
• The Times of India report (no date provided)