CBI to question two in forex transfer case

New Delhi, Oct 14 (IANS) Two people arrested in connection with an ongoing probe into an illegal forex transfer of Rs.6,172 crore by Bank of Baroda were sent to two days CBI custody here on Wednesday.

The Central Bureau of Investigation (CBI) on Tuesday had arrested Bank of Baroda’s Ashok Vihar branch head and assistant general manager Suresh Kumar Garg and foreign exchange unit head Jainis Dubey.

Special Judge P.K. Jain remanded them to CBI custody till October 16.

The CBI told the court that their custody was required to unearth the whole conspiracy. The plea was opposed by the defence counsel.

The case pertains to transfer of Rs.6,172 crore in foreign exchange through a Bank of Baroda branch to Hong Kong. The money was transferred through 59 bank accounts to companies in Hong Kong and Dubai for fake import and export businesses.

“A search revealed that addresses given by at least 50 companies for bank records were fake,” a CBI official told IANS.

“Interrogation of bank officials revealed that some employees acted as middlemen for these companies.”

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