New Delhi:

The CBI has arrested former DHFL Director Dheeraj Wadhawan in connection with the alleged defrauding of a 17-member lender bank consortium to the tune of Rs 34,000 crore, officials said Tuesday.

Mr Wadhawan, arrested from Mumbai on Monday night, was produced before a special court here which remanded him in judicial custody on Tuesday, they said.

The former director of DHFL and his brother, Kapil, were earlier arrested in the case on July 19, 2022, they said.

The agency had filed a chargesheet against 75 entities including Kapil and Dheeraj Wadhawan on October 15, 2022.

They were granted “statutory” bail from the special court on December 3, 2022, on the grounds that the investigation was incomplete and the charge sheet filed was piecemeal. This order was upheld by the Delhi High Court as well.

The CBI had challenged the order in the Supreme Court, which set aside the bail orders noting that the Special Court as well as the High Court “committed serious error of law” in disregarding the legal position enunciated and settled by the top court.

In the meanwhile, Dheeraj Wadhawan got interim bail in a separate matter on medical grounds from the Bombay High Court as he was admitted at the Lilavati Hospital for treatment. The Bombay High Court had regularised the bail in that case on May 2 this year and had also extended his protection from CBI arrest for one week.

The CBI arrested Mr Wadhawan after the protection period was over, they said.

At present, three accused are in judicial custody – Dheeraj Wadhawan, his brother Kapil Wadhawan, and Ajay Nawandar.

The CBI had booked the Wadhawans and others on a complaint from the Union Bank of India, the leader of the 17-member lender consortium that had extended credit facilities to DHFL to the tune of Rs 42,871 crore between 2010 and 2018.

The agency in its chargesheet has alleged that Kapil and Dheeraj Wadhawan, in a criminal conspiracy with others, misrepresented and concealed facts, committed a criminal breach of trust and abused public funds to cheat the consortium to the tune of Rs 34,615 crore by defaulting on loan repayments from May 2019 onwards.

The CBI has alleged that the company committed financial irregularities, diverted funds, fabricated books and round-tripped funds to “create assets for Kapil and Dheeraj Wadhawan” using public money.

DHFL loan accounts were declared non-performing assets at different points in time by lender banks, the officials said.

When DHFL was hit by investigation in January 2019 after media reports on allegations of siphoning off funds surfaced, the lender banks held a meeting on February 1, 2019, and appointed KPMG to conduct a “special review audit” of DHFL from April 1, 2015, to December 31, 2018.

The audit pointed to the diversion of funds in the garb of loans and advances to related and interconnected entities and individuals of DHFL and its directors.

The scrutiny of account books showed that 66 entities having commonalities with DHFL promoters were disbursed Rs 29,100 crore against which Rs 29,849 crore remained outstanding, the CBI has alleged.

Most of the transactions of such entities and individuals were in the nature of investments in land and properties, it has alleged.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Online fraud is increasing in today’s world where digital transactions have become the norm. Scammers are getting smarter. They use clever tricks to deceive people and steal their money, like sending fake emails, setting up bogus websites, and using sneaky software to swipe your sensitive info like credit card numbers and passwords. Now, a new scamming trend is on the rise, shared by a Bengaluru woman, named Aditi Chopra.

Ms Chopra shared an incident on X, formerly Twitter, recounting how she narrowly avoided falling victim to a financial scam that preys on unsuspecting people through SMS. She detailed how she was in the middle of an office call when she received a phone call from “an elderly sounding guy” claiming to need to transfer money to her father. The man said in Hindi, “Aditi, dear, I needed to send money to your father but he is not available, so he asked me to send it to you. Dear, please check, is this your number?” 

He cited issues with his own bank account and requested Aditi’s help in receiving the funds. Shortly after the call, Ms Chopra received SMS alerts, which seemingly showed confirmation of her getting funds into her account. “I first received an SMS mentioning an INR 10k credit, then an INR 30k credit, all while he’s on the call,” she wrote on X. 

The caller then informed Ms Chopra of an alleged mistake, claiming to have sent ₹30,000 instead of ₹3,000. “Dear, I was supposed to send only INR 3,000, but mistakenly sent INR 30,000. Please return the extra money. I am standing at the doctor’s place, I need to give him the money,” he allegedly said.

Upon close inspection, Ms Chopra noticed that the SMS alerts did not come from a legitimate bank, but rather from a 10-digit phone number. She recognised the red flags, saying, “Of course when I called back in a minute’s time after checking my accounts, I was blocked.”

She further added, “One could falter and give in but (I know) my dad, he over explains everything and triple checks in matters of money, whatever be the amount,” claiming “he would have called beforehand and given me more context than needed.”

Read the full post here

Another day, another financial fraud scheme ????

TLDR: Please read and make sure you don’t trust any SMSes regarding financial transactions.

Incident: Was busy on an office call when this elderly sounding guy calls me and says, ‘Aditi beta, papa ko paise bhejne the par unko ja… pic.twitter.com/5CYwwwvjG7

— Aditi Chopra | Web3 Community ????️ (@aditichoprax) May 2, 2024

Ms Chopra urged others to be wary of similar scams, stating, “Always check your actual bank account on a separate device and never go by any SMSes. That system is very easily gameable.”