Assam: Key Suspect Arrested in Corporation Bank Fraud Case by BIEO Assam

ASSAM: The Bureau of Investigation and Economic Crimes (IBEC) Assam has arrested Moinuddin Borbhuyan, son of Late Safar Ali Borbhuyan, a resident of village Durganagar Part-1 under Kachar Udarban police station on February 28, and arrested him from the residence. The arrest stemmed from an FIR lodged by the company’s deputy chief bank officer, implicating the Silchar branch branch manager and several others in a scheme involving fraudulent CCC loans.

These loans totaling crores of rupees were allegedly sanctioned on the basis of forged documents, causing huge losses to the bank BIEO Assam initiated a thorough investigation, registering a case under various sections of the Indian Penal Code (IPC), including 120B (criminal conspiracy), 420 (cheating), 409 (offenses committed by state a carrier violates trust), 468 (forgery for fraudulent purpose). During the course of the investigation, sufficient evidence was gathered that Md. Moinuddin Borbhuyan conspired with the then Branch Officer Tarun Kumar Seel. Borbhuyan allegedly played a key role in the fraudulent loan scheme by facilitating loan transactions using forged documents. Besides, it was found that Borbhuyan himself had received a CCCK loan of Rs. 45,000 and later paid nothing.

While the legal course of action which was against other involved accused parties had been concluded, Md. Moin Uddin Borbhuyan in the process had remained absconding till date until his arrest on February 28, 2024. After the thorough interrogation procedures by the police officials, Borbhuyan was brought to BIEO Assam from Silchar, Assam and presented before the court of Chief Judicial Magistrate for further proceedings of the case.

This tie-up is an important milestone in efforts to combat financial fraud and protect the integrity of banks. The BIEO Assam continues to vigorously pursue justice in this matter further demonstrating its commitment to protect the welfare of any financial institution and the public in general.

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