Shamken Group MD arrested for bank fraud worth Rs 30 crore

New Delhi, Apr 28 (UNI) The Economic Offences Wing of the Delhi Police has arrested Managing Director of Shamken Group Amit Chaturvedi in connection with bank frauds worth Rs 30 crore.

Police said Chaturvedi, arrested yesterday, had hatched a conspiracy in connivance with other company and others to cheat the banks of public money and misappropriated the same for personal gains.

The accused had made false representations and submitted fake documents to induce the banks.

Chaturvedi is being interrogated and further investigations are in progress.

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