Biggest Bank Fraud: AgustaWestland Chopper Seized From Pune Businessman’s Premises

Picture courtesy India Today

Pune: The Central Bureau of Investigation (CBI) seized an AgustaWestland-made helicopter from the premises of Pune businessman Avinash Bhonsale in connection with the Rs 34,614 crore Dewan Housing Finance Limited (DHFL) fraud case.

CBI officials had discovered the helicopter during searches at various locations to locate assets acquired from the proceeds of what is being called India’s biggest bank fraud.

According to India Today, the chopper was purchased by Bhonsale, who was recently arrested by the CBI.

It was found inside a large hangar-like hall.

The CBI recently recovered paintings worth Rs 5.50 crore and seized two luxury watches worth Rs 5 crore during its searches.

Dewan Housing Finance Corporation Limited (DHFL), its

The then Chief Managing Director of DHFL Kapil Wadhawan, then Director Dheeraj Wadhawan, businessman Sudhakar Shetty and others were accused of entering into a criminal conspiracy to cheat a consortium of 17 banks, led by Union Bank of India.

The accused have been booked on charges of cheating, fraud under relevant sections of Prevention of Corruption Act.