NEW DELHI: The Economic Offences Wing (EOW) of Delhi Police has arrested a 58-year-old man for his alleged involvement in a cheque forgery and bank fraud case involving more than Rs 5 crore, officials said on Saturday.
The accused, identified as Sudama Narware, was arrested from Betul district in Madhya Pradesh. According to police, he allegedly played a key role in diverting funds fraudulently withdrawn from the account of a university through forged cheques.
The case was registered on the complaint of an Assistant General Manager of a public sector bank regarding the fraudulent withdrawal of Rs 6.25 crore from the university’s account.
Police said that in August 2019, three forged cheques purportedly issued by the university were presented for clearance. Two cheques were cleared through a private bank, resulting in the transfer of Rs 5.20 crore to separate accounts in Vadodara, Gujarat, and Betul, Madhya Pradesh. Payment on the third cheque was stopped before clearance.
During the investigation, police examined bank records and found that Rs 2.5 crore was credited to the account of a firm, NS Infrastructure, in Vadodara, while Rs 2.7 crore was deposited into the account of an NGO in Betul, a senior police officer said.
According to DCP (EOW) Subodh Kumar Goswami, Narware was the secretary and authorised signatory of the NGO. He allegedly transferred `2.07 crore from the NGO’s account to another accused, after which the money was routed through five alleged shell firms in Delhi. Three accused have already been arrested, while further investigation is underway.
