The Central Bureau of Investigation (CBI) on Tuesday arrested Bank of Baroda AGM and Forex branch head in Delhi in connection with the Rs 6,000 crore illegal remittances case.
Separately, four middlemen have also been arrested by the Enforcement Directorate(ED). The bank had filed a complaint after internal probe found huge transactions through 59 companies to Hong Kong for imports that never happened.
The agency on Sunday conducted searches at locations and started questioning of some of the suspects.
CBI sources said most of the 59 account holder companies, which had allegedly sent these remittances in the garb of payments for suspected non-existent imports, have given wrong addresses.
The FIR alleged that “59 current account holders and unknown bank officials conspired to send overseas remittances, mostly to Hong Kong, of foreign exchange worth approximately Rs 6,000 crores in illegal and irregular manner in violation of established banking norms under the garb of payments towards suspected non-existent imports”.
The bank had carried out an internal probe after an audit red flagged nearly 8,000 transactions done from its Ashok Vihar branch, the CBI sources said.