CBI Arrests Singapore-Based Rajesh Bothra in Rs 32-Crore PNB LC Fraud
The agency says the arrest ensures his presence for investigation, including forthcoming court appearances.
Overview
- Bothra was detained on November 13 after a tip-off, with CBI tracing him to Hotel Andaz and Hyatt Residences in Aerocity near Delhi’s IGI Airport.
- The case originates from a Punjab National Bank complaint alleging Frost Infrastructure and Energy Pvt Ltd misused a Foreign Letter of Credit limit through forged bills of lading.
- Investigators allege the documents falsely depicted trade with FAREAST and Gulf Distribution Ltd, entities they say were controlled by Bothra.
- CBI says no genuine movement of goods occurred and LC proceeds were siphoned, causing a loss of about Rs 31.60–32 crore to PNB.
- Officials say Bothra has been chargesheeted in other CBI/ACB Lucknow cases, failed to join investigations or appear at trial, and will be produced before a trial court today.