BIEO Assam Arrests Key Suspect in Corporation Bank Fraud Case

The Bureau of Investigation Economic Offences (BIEO) Assam has arrested one Moinuddin Borbhuyan son of the Late Safar Ali Borbhuyan of village Durganagar Part-1, under Udarban Police Station, Cachar on February 28, 2024 from his house in connection with a criminal case of cheating and fraud.

Based on FIR lodged by Deputy General Manager of Corporation Bank alleging that the Branch Manager of Silchar branch of Corporation Bank has connived with several other persons including Moinuddin Borbhuyan and fraudulently sanctioned CCCK loans amounting to the tune of several lakhs of rupees on fake and fabricated documents causing huge loss to the bank.

Accordingly, a case vide BIEO PS Case No. 02/2016 under section 120B/420/409/468/471 of the Indian Penal Code (IPC) was registered and investigated.

During investigation, sufficient evidences have been gathered against Md. Moin Uddin Borbhuyan of his conspiracy with the then branch Manager Tarun Kumar Seal and played a major part in the nexus of such fraudulent loan to various persons on fake and fabricated documents, causing major fiscal loss to the bank. He himself had obtaining a CCCK loan amounting Rs. 45,000 and thereafter deliberately defaulted in repayment.

Though legal action against other personswere already completed, Md. Moin Uddin Borbhuyan was found absconding till his arrest of 28-02-2024. He has been brought to BIEO Assam from Silchar and forwarded to the court of Chief Judicial Magistrate after thorough interrogation.

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