The Hindu : Tamil Nadu News : Accused in Indian Bank scam held

Online edition of India's National Newspaper
Monday, Apr 04, 2005

Tamil Nadu

Tamil Nadu

Accused in Indian Bank scam held

By Our Special Correspondent

M. Varadharajaloo, who was arrested in Chennai on Sunday. — Photo: K.V. Srinivasan

CHENNAI, APRIL 3. Officers of the Central Bureau of Investigation, Economic Offences Wing (CBI-EOW) today arrested M. Varadharajaloo, wanted in connection with the Indian Bank scam, at the international airport here.

With the arrest, the decade-long hunt for the accused, also known as M.V. Raja, comes to an end. He is charged with defrauding the bank, in connivance with bank officials, of several hundred crores of rupees.

Varadarajaloo fled to Singapore in 1996 and then moved to France and took citizenship. The CBI fought a protracted legal battle in 2001 seeking his extradition, but to no avail.

However, with the help of the Ministry of External Affairs and the Indian Embassy in UAE, the accused was detained by the police when he tried to enter Dubai recently.

A special team from the EOW rushed to Dubai and with the cooperation of Government there brought him to Chennai, where he was arrested on arrival.

Five cases have been registered by the EOW, three by the Bank Securities and Fraud Cell of the CBI, Bangalore, and two by the Anti Corruption Branch of the CBI, here.

Charge sheets have been filed in all the cases, which are pending trial in the Principal Special Judge Court for CBI Cases, Chennai, according to an EOW release.

Printer friendly page
Send this article to Friends by E-Mail

Tamil Nadu