Mastermind of 200 crore FD fraud arrested, had cheated Noida Authority

In a joint operation by Noida’s Sector-58 police station and Crime Branch, mastermind Mannu Bhola and two other wanted accused have been arrested in the Noida Authority’s 200 crore FD fraud case. A reward of Rs 25,000 was announced on Mannu Bhola. A large amount of fake documents, PAN cards, Aadhaar cards and fake bank related documents have been recovered in this operation.

Actually, Noida Authority had issued a bid to make FDs of Rs 200 crore, in which Bank of India of Sector-62 won the bid and Noida Authority gave Rs 200 crore to the bank to make two FDs of Rs 100 crore each. The rule is that it is necessary to have a bank account in the bank in which the FD is to be made.

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In such a situation, Noida Authority formed a signing authority. However, before the signing officer could reach the bank, the fraudsters reached the bank posing as the authority’s officers and got Rs 3.9 crore transferred to another account. The fraudsters got another Rs 9 crore transferred, but the bank seized it.

This fraud came to light when in July 2023 last year, the Noida Development Authority contacted the bank to verify the FD of Rs 200 crore deposited in the Sector-62 branch of Bank of India. The information given by the bank revealed that the FD was fake and on June 30, 2023, Rs 3.90 crore was transferred to another account.

FIR lodged in Police Station Sector-58

In this regard, Noida Development Authority lodged an FIR in Sector-58 police station on July 4, 2023. Initial investigation revealed that the criminals used forged documents to open a bank account and transferred Rs 3.90 crore by opening a fake account in the name of Noida Authority. Mannu Bhola was the main accused behind this incident, who along with other accused had hatched a conspiracy to commit fraud.

The police arrested Mannu Bhola and another accused Tridib Das from Kabir Palace Hotel in Delhi. During the investigation, the police recovered 7 seals, 5 Aadhar cards, 2 PAN cards, 14 debit/credit cards, 5 cheque books, 2 passbooks and other fake documents from the accused. Five accused have already been arrested in this case, including Abdul Khadar, Rajesh Pandey, Sudhir, Murari and Rajesh Babu. Abdul Khadar is the same person who transferred Rs 3.90 crore from the Noida Authority account. He was arrested last year. The police is searching for other people involved in this entire case.