PNB Scam Probe: CBI Raids, Nabs Bank Officials, 2 Others

Mumbai: In another swoop in the ongoing probe into the Punjab National Bank (PNB) scam, the CBI on Thursday raided and arrested eight officials of the bank and directors of two private companies, an official said. The latest case involving a fraud of around Rs 90 million, comes in the continuing probe in the Rs 13,600 crore scam that was unearthed at the PNB’s Brady House Branch last February (2018). The CBI had lodged a case against various former and current bank officials, and two directors of a Mumbai-based company, Messrs. Chandri Paper & Allied Products, charging them with defrauding the PNB by issuing two Letters of Undertakings (LoU) worth USD 14,21,311.82 or Rs.9,09,63,956.48. (IANS)

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