Chartered Accountant arrested for Fraud
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A Chartered Accountant (CA) has been taken into custody by the Central Crime Station (CCS) sleuths for duping a bank to the tune of Rs 12 crore.
According to CCS, a case was registered against Sai Baba, a chartered accountant from Guntur under various sections, including 420 (Cheating) of the Indian Penal Code
IPC, based on a complaint lodged by representatives of a nationalised bank in January, 2013.
The bank officials alleged that Sai Baba had procured a loan of Rs 12 crore from them by claiming a property as collateral. "The bank lodged a complaint when they came to know that Sai Baba had mortgaged the same
Property to someone else using forged documents," a CCS official said. Sai Baba is reportedly working for a political party. (Times of India)
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