Daijiworld Media Network - Mangaluru (MS)

Mangaluru, Jan 27: Suratkal police have arrested Amit Dave (38), resident of Mumbai and produced him in court in the case relating to the alleged fraudulent transfer of Rs 55 crore from the deposit account of the government-owned Karnataka Rural Infrastructure Development Ltd (KRIDL) by the Indian Overseas Bank (IOB) Kulai branch.

Rs 55 crore was transferred in two installments on August 24 and 30 from the IOB Kulai branch to unknown accounts. Subsequently, the officers of the bank were taken into custody and investigation was conducted. The local police had alerted the Mumbai police about a person, who was in close contact with the accused in this case.

Accordingly, Amit Dave was handed over by the Emigration police to the Karnataka police department. He was interrogated for a week and was produced in court. He has been remanded to judicial custody till February 3.

It is learnt that Amit has given information about the persons of Chennai and Kolkata origin, who are being interrogated by the Crime Bureau of Investigation (CBI). The number of people involved in this fraud is increasing day by day. However, no definite clue is obtained with regards to the missing amount.