In a significant development in a long-pending financial crime investigation, the Central Bureau of Investigation (CBI) has arrested a former bank employee who had allegedly remained absconding for nearly 15 years in connection with a multi-crore bank fraud case.
The accused, identified as Poonam, was apprehended by a specialized CBI surveillance team during a targeted operation in Haryana's Yamuna Nagar district.
According to investigators, she had been declared a proclaimed offender by a court after allegedly evading legal proceedings linked to a bank fraud case dating back to the 2010–11 financial year.
Following her arrest, she was produced before the Special CBI Court in Ghaziabad and remanded to 14 days of judicial custody at Dasna Jail.
Alleged Fraud Caused Loss of ₹2.61 Crore
The case relates to alleged financial irregularities that occurred while Poonam was employed at the Dewan Public School branch of Punjab & Sind Bank in Meerut.
Investigators claim the alleged fraud resulted in a financial loss of approximately ₹2.61 crore to the public sector bank.
Federal investigators have alleged that the scheme involved manipulation of banking records, fraudulent loan processing, and the use of forged documentation to secure credit facilities.
Fake Accounts and Forged Property Records Allegedly Used
According to charge sheets filed by investigators, the alleged fraud was carried out through a coordinated network involving bank insiders and multiple external associates.
Authorities allege that fraudulent savings and loan accounts were opened using fictitious or proxy identities. These accounts were then allegedly used to process home loan applications supported by forged documents.
Investigators claim the network created fabricated property records, manipulated valuation reports, and forged sale deeds relating to properties that either did not exist or were misrepresented.
Once loans were approved, the funds were allegedly withdrawn through layered banking transactions and cheque clearances.
The CBI has alleged that the operation involved collusion between the accused and several other individuals, including former bank officials and external participants.
Fifteen Years on the Run
Investigators say the accused disappeared shortly after irregularities were detected and criminal proceedings were initiated.
According to the agency, she allegedly moved across multiple locations in northern India, frequently changing residences and using different identities to avoid detection.
Authorities state that despite proclamation proceedings and property attachment measures, she managed to evade arrest for over a decade.
The breakthrough reportedly came after intelligence inputs helped investigators trace her current whereabouts in Yamuna Nagar.
Investigation Continues
The CBI informed the court that substantial documentary and electronic evidence has already been collected against the broader network allegedly involved in the fraud.
Officials are now seeking further custodial interrogation to examine potential undisclosed bank accounts, trace unrecovered funds, and identify any additional individuals who may have assisted the accused during her years as a fugitive.
Investigators are also examining whether the alleged fraud network extended beyond the transactions already identified during the probe.
The case remains under investigation, and the allegations against the accused will be subject to judicial scrutiny during the course of legal proceedings.
Shunyatax Global Insight
Banking frauds involving forged property records, fictitious accounts, and insider collusion continue to pose significant risks to financial institutions. Cases involving long-term absconders highlight the importance of digital audit trails, forensic accounting, and inter-agency intelligence sharing in tracking economic offenders.
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