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CBI claims to have busted over Rs.2 crore post office scam

Last Updated: Monday, September 27, 2010 - 23:53

Ahmedabad: CBI on Monday claimed to have busted a post office scam of over Rs two crore relating to senior citizen savings scheme (SCSS)and have arrested two persons in this connection.

The agency arrested the two, Ripal Shah and Ankit Shah, after it was detected that Rs 2.56 crore had been withdrawn from closed SCSS accounts at a post office in Vadodara in connivance with post office officials.
CBI said a case was registered on September 18 against four officials of Chemical industries, an authorised postal agent, Ripal and Ankit and others under various sections of the IPC and Prevention of Corruption Act.

“It was alleged that the accused private persons in connivance with the accused officials of sub post office reactivated 58 SCSS accounts, which were already closed and the credits of the amount were shown in these accounts in the computer of the post office.

"About 8 savings accounts were opened in the name of accused, their relatives and friends in the same post office The balance shown against these SCSS accounts was withdrawn," an agency spokesperson said.

He said the amounts withdrawn were deposited in the newly opened saving accounts in cash on the same day to prevent detection of cash flow variation by the Head Post Office. The accused subsequently withdrew the amount from saving accounts by issuing cheques routed through clearing house.
"Thus, the accused have caused loss to the Government of India to the tune of Rs. 2.56 crores (approx) by withdrawing the amount against the closed SCSS accounts," he said.

Searches were conducted at the residential and office premises of accused persons at eight places and documents related to investments by one of the accused to the tune of Rs
47 lakhs (approx) were recovered.

Both Ripal and Ankit were produced in the designated court at Gandhinagar and remanded to CBI custody up to September 28.


First Published: Monday, September 27, 2010 - 23:53

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