RTGS scam: CBI court sends four accused in judicial custody

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According to CBI, the accused deposited demonetised notes of Rs 500 and Rs 1,000 in the bank account allegedly in collusion with the bank officials and spent the money through RTGS in purchasing gold among others. According to CBI, the accused deposited Rs 24.35 crore in the account of bullion firm SR Traders on November 16 with Bank of India. This amount was credited through RTGS “to first layer beneficiaries of fund transfers viz Shah Maganlal Gulabchand Choksi and Kruti Creations based at Surat.”

CBI has alleged that Chokkas opened the bank account for his unaccounted income of Rs 2.11 crore as seed capital for carrying out bullion trading post-demonetisation announcement. According to CBI, bullion was sold in cash in old high-value demonetised bank notes and the money was deposited in bank in collusion with Bansal and chartered accountant Ankur Bijaka for 1 per cent commission. Bank official Gamit has been alleged to have opened the bank accounts without verification.

CBI has alleged that Chokkas and Bijaka with the help of bank officials committed fraud to bring the unaccounted cash of Rs 24.35 crore into the banking channel without paying taxes on the same. Bajika and another accused Ami Tambakuwala, proprietor of Kruti Creations, have not been arrested yet.

CBI, in its remand application, had stated that Bansal has also received a mobile phone from Bajika as bribe and sought 1 per cent commission for opening account of SR Traders.