New Delhi, May 02: The CBI has achieved a major success in a major banking and financial fraud case. The authorities have arrested the main notorious accused Kamlesh Parekh, who was absconding for a long time.
Based on the Interpol Red Corner Notice, the UAE authorities arrested Parekh and handed him over on the official request of India. Parekh, who was brought to India on May 1, was taken into custody by CBI officials in Delhi. The operation was conducted under the leadership of the Ministries of External Affairs and Home Affairs.
Kamlesh Parekh, along with other promoters and directors, is accused of diverting money received from banks to foreign companies. This has caused losses of thousands of crores of rupees to several banks, including the State Bank of India. The investigation has revealed that this large-scale fraud was carried out through fictional export activities, suspicious money transfers and misuse of banking channels.
The CBI officials are now interrogating Parekh and trying to expose his entire network and the role of other accused. The CBI is cooperating with Interpol through the Bharatpol platform and has brought over 150 fraudsters to India in recent years, officials said.