Who is the Rs 17 Crore Bank Fraudster Arrested in Goa?
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Synopsis
A significant breakthrough in the ongoing battle against financial crimes: the CBI has successfully arrested an absconder linked to a massive Rs 17 crore bank fraud case. Discover how this individual managed to evade capture for years while living under a new identity in Goa.
Key Takeaways
- The CBI has arrested a Proclaimed Offender linked to a Rs 17 crore bank fraud.
- The accused had been living under a fake identity in Goa.
- Efforts to track him down began in 2013.
- He altered his identification documents to evade law enforcement.
- This case emphasizes the importance of stringent measures against financial fraud.
New Delhi, Dec 18 (NationPress) The Central Bureau of Investigation (CBI) has apprehended a Proclaimed Offender (PO), the Director of M/s House of Laptops (I) Pvt. Ltd., Pune, who is implicated in a bank fraud case totaling Rs 17 crore and had been evading capture, officials reported on Thursday.
The individual in question is Ashutosh Pandit, with the case linked to fraudulent activities involving the Indian Overseas Bank, Pune.
As stated by the CBI, the investigation began with the Economy Offences Wing (EOW) in Mumbai before being handed over to the CBI in Pune, where the legal proceedings are ongoing.
“Despite continuous efforts to locate the accused throughout the investigation and post-charge-sheet filing in 2013, he remained elusive,” the CBI noted in its statement.
After fulfilling all necessary legal protocols, the accused was formally declared a Proclaimed Offender in April 2018.
“Subsequently, leveraging information from the NATGRID Portal, it was discovered that Ashutosh Pandit had assumed a new identity as Yatin Sharma, residing in Bambolim, Goa,” the report explained.
The accused altered his PAN card, Aadhaar card, and passport. Initially, he secured a passport from New Delhi and later obtained a second passport from Goa after the first expired.
The CBI executed a thorough operation, bolstered by technical evidence, and successfully arrested the Proclaimed Offender at his new address.
In a related matter, a special CBI court in Chennai on November 21 convicted two private firms and two individuals in a bank fraud case exceeding Rs 4 crore, concluding a lengthy 15-year trial initiated after Canara Bank reported significant irregularities in loan disbursement.
Investigators revealed that the implicated firms, run by Nazeer Ahmed, his wife Fathima Rizwana, and associates, conspired with senior bank officials, including Chief Manager T. Rajendran and panel valuer K.S. Ashok, between 2007-08.
The accused allegedly exploited the bank’s trust, submitted forged documents, and fraudulently secured loans and bank guarantees totaling Rs 405.47 lakh from the Canara Bank’s Kilpauk branch in Chennai.
Point of View
It is vital to highlight the relentless efforts of the CBI in combating financial fraud, which undermines public trust in institutions. This arrest not only serves justice for the victims but also sends a strong message to potential offenders that evading the law is increasingly difficult. We must remain vigilant and support initiatives aimed at enhancing transparency and accountability in financial dealings.
NationPress
20/12/2025
Frequently Asked Questions
Who is Ashutosh Pandit?
Ashutosh Pandit is the Director of M/s House of Laptops (I) Pvt. Ltd., Pune, and is accused of being involved in a bank fraud case worth Rs 17 crore.
Why was he declared a Proclaimed Offender?
He was declared a Proclaimed Offender in April 2018 after evading capture despite the CBI's extensive efforts to locate him.
How did the CBI locate him?
The CBI utilized information from the NATGRID Portal, which revealed that he had changed his identity and was living in Goa.
What other fraud cases are mentioned?
The content also references a related case where a special CBI court convicted individuals and firms in a separate Rs 4 crore bank fraud case.
What measures are being taken to prevent such fraud?
The CBI's ongoing investigations and arrests, along with stricter regulations and oversight in financial institutions, are crucial steps in combating bank fraud.
