The Central Bureau of Investigation (CBI) has filed a fraud case of Rs 387 crore against State Bank of India (SBI) against the Jewelery Trading Company of Mumbai (Auro Gold Jewelery Private Limited) and its directors Amrit Lal Jain, Ritesh Jain. The SBI has given detailed information about the fraud in the complaint to the Mumbai Police, CBI and Anti Corruption Branch.
Apart from Amritlal Jain and Ritesh Jain, the company and three others are also named in the complaint. This flaw was revealed in the forensic audit report dated 10 September 2014 and the Fords Angle Examination report of 19 May 2018. The fraud was carried out between 2011 and 2015 in Mumbai. The complaint states that the accused persons illegally tampered with accounts and obtained fake documents to gain bank funds.
Ritesh Jain, a diamond businessman and owner of ‘Auro Gold Jewelery Company’, is also the main accused in the Rs 1,478 crore money laundering case through shell companies. In March, Mumbai Police arrested him at the International Airport while returning from Dubai. Jain had been running since 2016.
