SFIO starts probe into Rs 6,000-crore BoB scam
CBI and Enforcement Directorate (ED) are already investigating BoB on the issue
By : DC Correspondent
Update: 2015-10-16 03:50 GMT
New Delhi: Serious Fraud Investigation Office (SFIO) has started investigations into the alleged Rs 6,100-crore black money transaction case involving a Delhi branch of Bank of Baroda (BoB). CBI and Enforcement Directorate (ED) are already investigating BoB on the issue. Last week, CBI and the ED started investigating the matter.
It is alleged that Rs 6,172 crore black money was remitted from Bank of Baroda to Hong Kong which was passed off as payments for non-existent imports like cashew, pulses and rice. It is also alleged that the amount was deposited in 59 accounts of the bank’s Ashok Vihar branch (New Delhi) in cash as advance for import and the money was sent to some select companies in Hong Kong.
Meanwhile, finance minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned Bank of Baroda (BoB) will only be known after completion of the multi-disciplinary probe. “It’s a matter of investigation and it is some unscrupulous people who have managed to beat the system,” Mr Jaitley said when asked if he expects involvement of more banks in this issue.
“Now you have CBI investigating, you have ED investigating, you have SFIO investigating, you have tax people looking into it. So, once these investigative agencies form a prima facie opinion, its only then the magnitude, the nature and the kind of people involved in it will become clear," he told a news channel.