Dena Bank fraud case: ED attaches assets worth Rs 13.19 crore

The Enforcement Directorate (ED) on Tuesday attached assets worth Rs 13.19 crore of one Vimal Maluka alias Vimal Barot in connection with Rs 220-crore fraud in the Malabar Hill branch of Dena Bank, Mumbai.

The properties comprise three residential flats in Mumbai, one commercial space in Pune, one BMW car and Rs 96 lakh (approx) in bank accounts belonging to the accused in the names of his relatives and shell companies controlled by him.

The case pertains to an alleged fraud to the tune of Rs 220 crore (approx) with Dena Bank over the period from January 2014 to June 2014, committed by Vimal Barot of Showman Group, Mumbai in connivance with Pritam Vidyadhar Nagarkar, the then Branch Manager of Dena bank, Malabar Hill Branch and unknown private persons.

On the basis of a complaint filed by the Zonal Office of Dena bank in Mumbai, the CBI-BSFC registered an FIR on July 14, 2014, under Sections 120B read with 419, 420, 467, 468 and 471 of the Indian Penal Code (IPC), and Sections 13(2) and 13(1)(d) of Prevention of Corruption Act, 1988.

The FIR states that Barot purported to be the representative of Dena Bank to different organisations/corporate namely Mahatma Phule Backward Class Development Corporation Ltd, Mumbai Metropolitan Region Development Authority, Maharashtra Tourism Development Corporation Ltd, Mumbai APMC, Hero Motocorp Ltd, Modi Innovative Education Society and Modi ATI Education Pvt Ltd in order to commit the fraud.

On taking up the investigation under the Prevention of Money Laundering Act, 2002, the ED found that money was layered in multiple forged accounts created by the accused.

Following the trail of the money, the ED had provisionally attached properties worth Rs 10.30 crore in September 2017.

Total attachments in the case now are Rs 23.49 crore.

Further investigations in the case are underway.