CBI names 4 in PNB fraud linked to Mehul Choksi
The CBI just named four more people in the massive Punjab National Bank fraud linked to Mehul Choksi, the jeweler who fled India back in 2018.
Among them, is Bishnubrata Mishra, then Internal Chief Auditor of PNB's Brady House branch, plus Jayesh Indravadan Shah, Ajit Kantilal Bheda, and Deepen Chandravadan Shah.
A Mumbai court has officially acknowledged the new charges.
Mishra faces prosecution over 21cr lous
According to investigators, these four helped issue 234 fake Letters of Undertaking (LOUs) for Choksi's Gitanjali Group during 2015 and 2016, worth over ₹21 crore.
These LOUs were approved without proper credit checks or cash deposits, making it easy for funds to be siphoned off.
Mishra, as a public servant, now faces prosecution with official approval.
CBI finds scheme cost banks 13578cr
Choksi left India just before the CBI started its probe.
The agency later uncovered that this wasn't a one-off, it was a part of a larger scheme running from 2011 to 2017 that cost PNB and other banks around ₹13,578 crore.