Mumbai: Fino Payments Bank has appointed KPMG to investigate complaints of a fraud in the company.
The bank said it has received complaints from a client in Mumbai as well as several merchants, distributors, and individuals in Gujarat and Maharashtra. The complaints, conveyed via email, revolve around allegations of non-receipt or repayment of funds connected to potentially fictitious schemes purportedly initiated by certain Bank employees in their personal capacity.
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4 jail inmates get pre-arrest bail in bank fraud cases
Four individuals, including directors and promoters of SRS real estate company, have been granted anticipatory bail by a special judge in a cheating and fraud case involving a nationalised bank. The accused, who have been cooperating with investigations for the past three years, were never arrested by the CBI. The bail application was supported by rulings from the Bombay High Court. The accused had taken loans worth Rs 152 crore from Canara Bank, which came under scrutiny due to default on repayment and documentation issues.