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Bhopal City
CBI registers fraud case against former Madhya Pradesh chief minister’s son, 3 others
18-09-2014

BHOPAL: Central Bureau of Investigation (CBI) on Wednesday booked four persons, including son of former Madhya Pradesh chief minister Kailash Joshi, for their alleged role in a fraud causing financial loss to a nationalised insurance company. The agency has also raided residential premises of the accused.

One of the accused Yogesh Joshi, son of former chief minister Kailash Joshi, is general manager (storage) of Madhya Pradesh State Cooperative Marketing Federation Limited (MARKFED), Bhopal.

The agency has booked a development officer and two agents of New India Assurance Company, Mandideep Branch and Raisen under section 120-B, 420 of IPC and various sections of Prevention of Corruption (PC) Act 1988 on the basis of a complaint.

It was alleged that the accused entered into criminal conspiracy with each other and issued insurance coverage of MARKFED’s stock and paid commission to the agents and incentive to development officer on the basis of false certificate issued by GM, MARKFED.

However when tenders were issued, there were clear instructions to keep agents out of the proceedings. Thus the accused cheated New India Assurance Company to the tune of Rs 30.46 lakh and corresponding gains to themselves.

CBI officials said that six premises were raided in this case, after obtaining search warrants from the Special Judge for CBI Cases, Bhopal. Some incriminating documents have been seized during the searches which are under scrutiny.