ED arrests senior officer of Bank of Baroda for Fraud

The Enforcement Directorate’s Jalandhar office arrested bank of Baroda’s Senior manager Kuldeep Singh. Singh was accused of bank’s multi-crore fraud case.

This was in pursuance of the Bank of Baroda loan case. ED had arrested Vikram Seth and his brother Suresh Seth from Phagwara earlier. Both brothers were accused of defrauding the bank to the tune of Rs 2131 crore. CBI was looking into the matter in the initial stages, and later CBI handed the case to the Enforcement directorate. The investigation revealed that the Seth brothers had defrauded the bank of Rs 2131 crore after getting around 19 loans approved with the help of various accused bank officials.