CBI arrests two foreigners in Chennai Port Trust fraud case

The arrested individuals have been identified as Boussiomo Steve Bertrand Yannick from Cameron and Musasa Ilunga Lucien alias Bo Bo from Congo. The CBI had earlier arrested nine individuals in the case.

“The CBI conducted search operations at Ramapuram, Chennai and arrested two foreign nationals. They were reportedly on student visas but could not produce original passports. During the search, laptop, mobile phones, camera, printer and certain documents relating to Kamarajar Port Trust, Chennai Port Trust, bank fixed deposits and logos of different government organizations in India were found,” the CBI spokesperson said.

The CBI had registered a case in the matter on July 31 last year based on a complaint by the Indian Bank. The FIR arraigned as accused the then manager of Indian Bank’s Koyambedu branch, Chennai, apart from two private individuals on the allegations of committing fraud, forgery, impersonation with the intention to cheat the bank to the tune of over Rs 100 crore.

It was further alleged that a loss to the tune of Rs 45.40 crore was caused to the Indian Bank by way of foreclosing several term deposits (fixed deposits) created in the name of the Chennai Port Trust and also transferring/withdrawing the said amount through various accounts.

“It was also alleged that the accused in conspiracy with each other canvassed the Indian Bank and the Chennai Port Trust for opening of term deposits in the Koyembedu branch and, accordingly, 45 term deposits were created between March 2020 and May 2020. One of the accused allegedly impersonated himself as the deputy director (finance) of the Chennai Port Trust (CPT) and opened a fake current account in the name of the CPT at Koyambedu branch of the Indian Bank,” the spokesperson said.

According to the CBI, the bank created term deposit receipts (bonds) against investments made by the CPT and the bonds were received by the accused from the bank directly. Instead of delivering original bonds to the CPT, the accused made duplicate bonds and submitted the forged bonds to the CPT, the CBI said.

The investigation agency further alleged that the accused pre-closed the term deposits one after the other within a few days of the creation of the term deposits. The money received from the pre-closure of term deposits was allegedly credited into the fake current account created in the name of the CPT by the accused and subsequently transferred to 34 different accounts. This money was withdrawn by 27 account holders and handed over to the accused, the CBI added.

“A total of Rs 100.57 crore (approx.) was transferred from the CPT in five investments, against which 45 term deposits of different amounts were created. Out of the total amount invested, Rs 55.19 crore could be saved after the detection of the fraud and the remaining Rs. 45,40,65,000/- were swindled by the accused. We had earlier arrested nine persons in this case and all are in judicial custody. Searches were also conducted earlier at 22 locations spread across Chennai, Tirunelveli, Tuticorin and Nagercoil,” the CBI spokesperson said.