CBI arrests 2 for Rs 2,700 crore fraud after extradition from UAE

NEW DELHI: CBI in coordination with the MEA and MHA, coordinated the return of two Red Notice subjects, Kamlesh Parekh and Aalok Kumar, from the UAE. Both fugitives were detained by UAE authorities following Interpol notices and returned to India to face judicial process.

Parekh, the CBI said, was wanted in connection with a case of banking and financial fraud to the tune of Rs 2,672 crore. The case was registered by CBI in Kolkata in 2016 for allegedly cheating a consortium of 25 banks.

"The accused in conspiracy with other promoters and directors, facilitated diversion of bank funds through a network of overseas entities and business activities, including in the UAE, while actively managing export-related operations and financial transactions of the company and its associated entities abroad by using fraudulent practices such as manipulation of financial transactions and misuse of banking channels," the CBI said.

On the basis of an Interpol Red Notice, the accused was located in the UAE. Upon India’s request, the subject was detained by UAE authorities. Following due legal proceedings and close coordination between Indian and UAE authorities it was decided to hand over the subject to Indian authorities. The subject arrived at Delhi on May 1 and was taken into custody at Kolkata.

In the second case, the accused, Kumar, was wanted in connection with a case registered by Haryana police for offences including cheating, forgery, criminal conspiracy and use of forged documents for obtaining passports fraudulently.

"The accused was a key conspirator in a well-organised racket involved in procuring Indian passports on the basis of forged documents and false information. Several individuals with criminal antecedents were allegedly facilitated by the accused in obtaining passports using fabricated identities and addresses," the CBI said.

The accused also played significant role in coordinating illegal activities and managing the immigration of such individuals. At the request of Haryana Police, the CBI got a Red Notice published against the subject through Interpol channels.

Subsequently, the subject was geo-located and arrested by the UAE authorities. Thereafter, an extradition request was submitted to the UAE authorities. The subject arrived at Mumbai on May 1 where he was taken into custody by Haryana police.