4 Accused of Fraud: Rs 57M Stolen from Bramer Bank, Suspects Identified

This 23rd May, the Financial Crimes Commission (FCC) announced that its investigation has identified Darmendra Mulloo and Chandra Prakashsing Dip as the masterminds behind a fraud that harmed the now-defunct Bramer Bank.

According to FCC Acting Head of Investigation Robert Seeruthun, Mulloo and Dip were in contact with two former bank employees, Muhammad Irfaan Hausmuddy and Mohammad Younousse Katoaroo, during the scheme.

The FCC has gathered statements from the four suspects, along with bank records, checks, and transaction documents related to the case.

The defense argued that Seeruthun cannot reference Mohammad Younousse Katoaroo’s statements, claiming they are hearsay.

They also pointed out that Katoaroo is facing a separate legal case. The prosecution is expected to respond to this objection.

Chandra Prakashsing Dip, the son of former Police Commissioner Anil Kumar Dip, faces 15 charges of money laundering.

Between March 30 and July 17, 2011, he allegedly received checks ranging from Rs 35,000 to Rs 300,000 from Yeschem Ltd, totaling Rs 1,415,000.

Darmendra Mulloo faces 156 charges for a total amount of Rs 18,533,603.76. Sheik Mohammed Khadafi Jany is charged with two counts for receiving Rs 310,000 and Rs 122,000.

Muhammad Saif Ullah Maulaboksh is accused of 16 counts related to laundering Rs 34,723,228.38. All four suspects pleaded guilty.

Meanwhile, Muhammad Irfaan Hausmuddy, who pleaded not guilty, is facing a separate trial.

He is charged with money laundering involving a car and 35 counts of electronic fraud, totaling Rs 57,466,595.52, for crimes committed between February and July 2011.

Source: Defi Media