New Delhi: A big case of another fraud has emerged after Nirav Modi. Bank fraud case registered against jeweler Dwarkadas Seth of Delhi. This case of fraud is about Rs 390 crore. Jeweler Dwarkadas Seth has cheated Oriental Bank of Commerce. The CBI has registered a case against Dwarka Das Seth International for alleged fraud.
Six months after the public sector bank’s complaint, the agency has registered a case against the directors of the company, Sariyeth Seth, Rita Seth, Krishna Kumar Singh, Ravi Singh and another company Dwarka Das Seth SEZ Incorporation.
The investigation conducted by the bank found that the company used the letter of credit to pay for the purchase of gold and other precious gems. The company sent gold and money out of the country using fake transactions. The bank’s complaint has been made part of the CBI FIR. The company was also dealing with some companies which are not in existence.