The Enforcement Directorate delivered a body blow to a bank fraud ring in Goa, attaching ₹78 lakh worth of assets connected to embezzlement at Bank of Baroda’s Anjuna outlet. This PMLA-driven move aims to claw back proceeds from public fund misappropriation.
Stemming from an EOC FIR in Panaji—shifted to Crime Branch—the case indicts Udit Narayan, the former manager, and cronies for a plot involving unauthorized account drains. Customers were fleeced via illicit transfers, devoid of any legitimate nod.
ED sleuths uncovered a sophisticated operation where Narayan leveraged his role for fake debits on dormant accounts like those of Anjuna Comunidade. Jali signatures, burner SIMs, and mule accounts formed the laundering web, hiding ₹2.34 crore in crime yields through tangled transfers.
Provisional attachments hit a Ponda shop in Sadashiv Plaza, Anjuna plot, Kirti Residency apartment, and Narayan’s bank holdings—proxy-held assets valued equivalently to the scam’s haul.
Ongoing probes signal more actions ahead, reinforcing ED’s role in safeguarding India’s financial integrity. This Goa episode spotlights the perils of insider threats, urging banks to fortify controls against such predatory schemes.