Guwahati: Bureau of Investigations Economic Offences arrests one for banking fraud

Guwahati: The Bureau of Investigations Economic Offences (BIEO) Assam has arrested Moinuddin Borbhuyan of Durganagar Part-1 village, under Udarban Police Station, Cachar, from his house in connection with a criminal case of cheating and fraud.

 Based on an FIR lodged by the Deputy General Manager of Corporation Bank alleging that the Branch Manager of the Silchar branch of Corporation Bank has allegedly connived with several other persons, including Moinuddin Borbhuyan, and fraudulently sanctioned CCCK loans amounting to the tune of several lakhs of rupees on fake and fabricated documents, causing huge losses to the bank. Accordingly, a case, vide BIEO PS Case No. 02/2016 U/S 120B/420/409/468/471 IPC, was registered and investigated.

During the investigation, sufficient evidence has been gathered against Md. Moinuddin Borbhuyan of his conspiracy with the then branch manager, Tarun Kumar Seal, and allegedly played a major role in the nexus of such fraudulent loans to various persons on fake and fabricated documents, causing a major fiscal loss to the bank. He himself had obtained a CCCK loan amounting to Rs. 45,000 and thereafter deliberately defaulted on repayment.

Though legal action against other persons was already completed, Md. Moinuddin Borbhuyan was found absconding until his arrest on February 28, 2024. He has been brought to BIEO Assam from Silchar and forwarded to the court of the Chief Judicial Magistrate after thorough interrogation.

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