CBI charged United Bank ex-CMD for corruption

CBI
CBI

The Central Bureau of investigation (CBI) has booked, Ex-Chairman and Managing Director (CMD) of United Bank of India, Archana Bhargava for abusing her official position in 2011 and 2013.

CBI registered a case against Bhargava, under section 120-B which is a Criminal conspiracy of the Indian Penal Code (IPC) and Prevention of Corruption Act, with a private firm based in Kolkata and few unidentified people.

“It was alleged that Bhargava, while posted as Executive Director of Canara Bank (2011) and as CMD of United Bank of India (2013) had abused her position and obtained certain amounts for herself or for a New Delhi-based private firm (owned by her husband and her son),” a CBI official said

She also provided various credit facilities to the companies from the bank branches she was posted in, he said.

Separate CBI teams conducted raids at the resident of the people who are charged in Delhi, Noida, Mumbai, Kolkata and Howrah and found out the jewellery worth Rs 2.85 crore along with Rs 10.50 lakh in cash from the bank lockers in her name and in the name of her family members.

The properties in her name and of her family members are seized. Documents and Rs 5.42 crores were also taken on hold.

Wefornews Bureau

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