Bulletin India, Correspondent.
Bokaro : A major financial fraud case unraveled as the police arrested Rajiv Ranjan Pandey, alias Guddu Pandey, in Bokaro’s Ritudih area. The accused had been hiding there after illegally constructing a restaurant on Bokaro Steel Limited (BSL) land while being involved in a ₹122 crore scam.
The arrest was made on March 23 in a joint operation conducted by Bokaro Police and Maharashtra’s Dadar Police. Investigations revealed that Pandey was a key member of an organized fraud syndicate.
The ₹122 Crore Bank Scam
According to police sources, the scam originated in Mumbai, where Pandey lured a co-operative bank manager with promises of doubling money. The manager colluded with Pandey, enabling the fraudulent withdrawal of ₹122 crore from the bank. However, after the scam came to light, Pandey went underground.
Following an internal probe, the bank management filed a complaint at Dadar Police Station, leading to the arrest of the bank manager. During interrogation, the manager disclosed the names of other culprits involved in the fraud, ultimately leading the authorities to Guddu Pandey’s hideout in Bokaro.
Coordinated Efforts Led to Arrest
With intelligence inputs and close coordination between Jharkhand and Maharashtra police, Pandey was tracked down and arrested. He was subsequently taken into custody by Maharashtra Police for further investigation.
Authorities suspect that Pandey’s syndicate might have executed similar frauds in other states. The investigation is ongoing, and more arrests are expected as officials delve deeper into the case.