CBI Nabs Fugitive Bank Manager in Bengaluru in Major Fraud Crackdown
The Central Bureau of Investigation (CBI) executed a significant arrest in Bengaluru on Thursday, apprehending an absconding accused linked to three separate bank fraud cases originally registered in Kolkata. This operation marks a crucial development in a long-standing investigation that has spanned nearly two decades.
Details of the Alleged Financial Fraud
The arrested individual, Krishnamurti Raghunath, formerly served as the manager at the Burrabazar branch of Bharat Overseas Bank in Kolkata. According to CBI officials, Raghunath allegedly conspired with other individuals to orchestrate a sophisticated fraud scheme.
The core of the accusation involves the creation of current accounts under the names of fictitious firms. Through these fabricated entities, funds were systematically misappropriated, resulting in a substantial financial loss estimated at approximately Rs 38.2 lakh (38.2 Lakh Rupees) to the bank. It is important to note that Bharat Overseas Bank has since been merged into Indian Overseas Bank, which is now the affected entity.
A Prolonged Manhunt Comes to an End
The CBI revealed that the accused had been actively evading the legal process since 2005, successfully avoiding arrest for years. His strategy involved frequently changing his places of residence across different states, making him a challenging target for law enforcement.
The breakthrough came following a meticulous, week-long operation coordinated by CBI sleuths from Kolkata. The operation's scope extended across three Indian states: West Bengal, Maharashtra, and Karnataka.
The arrest in Bengaluru was made possible through a combination of human intelligence and advanced technical surveillance inputs. This multi-pronged approach allowed investigators to finally track down and apprehend the fugitive manager.
Legal Proceedings and Next Steps
Following his arrest in Bengaluru, Krishnamurti Raghunath was promptly produced before a local court. The purpose was to obtain a transit remand, a legal order necessary for transporting an accused person from one jurisdiction to another.
With the remand secured, the CBI will now transport the accused to Kolkata. He is scheduled to be produced before the competent court there to face formal charges related to the bank fraud cases. This arrest underscores the CBI's continued efforts in pursuing financial crimes and bringing long-evading suspects to justice, regardless of the time elapsed or geographical hurdles involved in the investigation.
