Bank fraud: ED attaches demand draft worth Rs 2.25 cr in Rajasthan

A demand draft bearing Rs 2.25 crore funds has been attached by the Enforcement Directorate (ED) in connection with its probe in an alleged multi-crore bank fraud case in Rajasthan, the federal agency said on Thursday.

It said the case pertains to Syndicate Bank and involves alleged "mastermind" of the fraud, Udaipur-based chartered accountant (CA) Bharat Bomb and a Jaipur-based builder Shankar Lal Khandelwal.

The accused, the ED said in a statement, "in collusion with officials of Syndicate Bank" defrauded the bank between 2011-16 by adopting different modus operandi and caused the bank "deliberate and a huge loss."
"Khandelwal, through his company Khandelwal Buildcon Pvt Ltd, invested Rs 2.25 crore in February, 2016 to purchase a plot (no G20 west way heights in truck terminal scheme at Bhankrota in Jaipur) in the name of Taruchaya Colonizers LLP."