Yes Bank fraud: ED arrests Gautam Thapar: accused of defrauding Yes Bank of Rs 446 crore

    SEBI imposes a fine of Rs 25 crore on Yes Bank in AT1 Bonds case

    Yes Bank fraud: ED arrests Gautam Thapar: accused of defrauding Yes Bank of Rs 446 crore- The Enforcement Directorate has arrested Gautam Thapar, promoter of Avantha Group of Companies, in connection with an alleged fraud of Rs 466 crore in Yes Bank. He was arrested late Tuesday evening under the PMLA. Thapar will be produced in a local court today where the ED will seek his custody for questioning. The ED had raided the premises of Gautam Thapar on Tuesday.

    Earlier, the CBI had registered an FIR against Gautam Thapar and others. Based on this, the ED has started a money-laundering probe against him. The CBI had last month conducted raids in this connection at 14 places including Delhi NCR, Lucknow, Secunderabad and Kolkata from where incriminating documents and digital evidence were recovered.

    What are the charges?

    According to CBI officials, apart from Thapar, Raghubir Kumar Sharma, Rajendra Kumar Mangal, Taapsee Mahajan and their companies Oyster Buildwell Pvt Ltd, Avanta Realty Pvt Ltd. and Jhabua Power Ltd. A case has been registered against the officials of The case was registered on the complaint of Ashish Vinod Joshi, Chief Vigilance Officer of the bank.

    Thapar and other accused are facing charges of criminal conspiracy, criminal breach of trust, cheating and forgery for misappropriation of public money amounting to Rs 466.15 crore. After registering the case, the CBI team raided 14 places in Delhi and NCR, Lucknow (Uttar Pradesh), Secunderabad (Telangana) and Kolkata (West Bengal).


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