The Central Bureau of Investigation today raided three locations linked to AAP Punjab MLA Jaswant Sing in a Rs 40 crore bank fraud case. An FIR has been registered in the matter against AAP MLA Jaswant Singh 'Gajjan', his brother Kulwant Singh and his nephew Jaswant Singh - all are the directors of the firm that is accused of causing the fraud to Bank Of India to the tune of Rs 40 crores.
Jaswant Singh is a sitting MLA from Amargarh, Sangrur, Punjab for Aam Aadmi Party. The accused are also the guarantor of the loan.
The account, to which the loan was sanctioned, was classified as Non-Performing Asset on 31st March, 2014 and based on anomalies, the account was declared as fraud on 9th Febraury, 2018 with an outstanding amount of Rs.40.92 Crore (approx).
"It was also alleged that the loan availed by the accused has not been used for the purpose for which it was availed," a press statement said.
"A cash of Rs. 16.57 Lakh(approx), around 88 foreign currency notes, 94 blank cheque along with Aadhar Card, some property documents, several bank accounts and other incriminating documents were found and recovered during searches," the statement added further.
The searches were conducted at Malerkotla and Gaunspura locations.
As per the FIR, the firm was sanctioned loans at four intervals from 2011-2014 by the Bank.
