In a significant breakthrough, the Central Bureau of Investigation (CBI) has successfully apprehended a long-absconding director accused of orchestrating a massive bank fraud. The accused, Ashutosh Pandit, was arrested from his hideout in Goa on Wednesday, bringing an end to an extensive search that lasted years.
The Rs 17 Crore Pune Bank Fraud Case
Ashutosh Pandit, who served as the director of M/s House of Laptops (I) Pvt Ltd based in Pune, stands accused of defrauding a public sector bank in the city. The agency's press release, issued on Thursday, detailed that the alleged fraud amounted to a staggering Rs 17 crore. The case was originally registered with the Economic Offences Wing in Mumbai before being transferred to the CBI's Pune branch for further investigation. The trial in this high-value case is currently pending.
A Decade-Long Manhunt and Identity Change
The CBI's pursuit of Pandit was persistent but challenging. Officials diligently tried to trace him during the initial investigation phase and even after filing the chargesheet in 2013. However, he successfully evaded capture. Following the completion of all required legal procedures, a court formally declared Ashutosh Pandit a proclaimed offender in April 2018.
The breakthrough came through advanced intelligence gathering. "Based on inputs generated through the NATGRID portal, it was found that Pandit changed his identity and adopted the name Yatin Sharma," the CBI stated. He had been residing in the Bambolim area of Goa. In a bold move to conceal his past, Pandit had officially changed his key identity documents—including his PAN card, Aadhaar card, and passport—to reflect his new alias, Yatin Sharma. He first obtained a passport from New Delhi and later secured a renewed one from Goa after the first expired.
The Meticulous Operation and Arrest
Acting on this crucial intelligence, the CBI orchestrated a carefully planned operation. The team relied on substantial technical evidence to pinpoint his location and movements. This meticulous strategy culminated in the successful arrest of Pandit at his new residence in Goa. The operation highlights the agency's use of integrated data platforms and sustained investigative efforts to track down fugitives who attempt to disappear by assuming new identities.
The arrest marks a critical step towards securing justice in a case that has remained open for over a decade, demonstrating that law enforcement agencies can eventually catch up with those accused of major financial crimes, regardless of how thoroughly they attempt to hide.
