The Central Bureau of Investigation (CBI) today chargesheeted the Johari brothers of Cyberspace Ltd and its sister concerns and unknown Bank of India (BoI) officials for defrauding the bank to the tune of Rs 3 crore.
The chargesheet was filed before the 19th metropolitan court, Mumbai.
According to the chargesheet filed by the Economic Offenses Wing (EOW) of the CBI, though loan was availed of for the purchase of computer goods, it was diverted to clear the Joharis' dues on the Bombay Stock Exchange (BSE).
As per the charges, Cyberspace "dishonestly" obtained lease finance of Rs 2,79,98,000 from BoI's lease finance branch in Mumbai to purchase computer goods from Inmac Computers, its sister concern.
Cyberspace, in connivance with Inmac, diverted Rs 2.73 crore to Kamal Infosys, another sister concern of Cyberspace, which in turn diverted the same amount to Century Consultants, a company controlled by the same directors.
CBI officials said that the amount was ultimately utilised to discharge liabilities of Century Consultants towards BSE, thus cheating BoI to the tune of Rs 2.80 crore.
The racket came to light in mid-May after the Joharis were reported to be absconding in another case. The BoI officials visited the premises of Cyberspace to ascertain whether the computer goods were really purchased. It was revealed that no such things had been purchased and the company had availed the loan facility by submitting false invoices and bills.
The Joharis were in desperate need of funds and non-payment of dues would have led to cancellation of their BSE membership.
According to CBI sources, the first information report (FIR) in the case was registered on May 22 by the EOW, CBI. The FIR was registered against Arvind Mohan Johari , director of Cyberspace, Gyanendranath Johari and Anand K Johari, directors of Century Consultants and Kamal Infosys, V Girish Babu, director, Inmac Computers and unknown BoI officers.
The FIR was registered on the basis of a complaint filed by Subodh Kumar, chief vigilance officer of BoI.
It may be noted that CBI, Mumbai, had registered a case against an ex-chairman, two executive directors and a general manager of the Unit Trust of India (UTI) and Cyberspace and its directors for causing wrongful gain of Rs 32 crore to Cyberspace, Mumbai, and the corresponding losses to UTI.
