Nitin Sandesara and family fled to Nigeria after Rs 5000 cr bank fraud
Nitin Sandesara was the owner of Gujrat-based, Sterling Biotech. He is now wanted the CBI and the ED in a Rs 5000 crore bank fraud. He was being detained in Dubai. New information has now emerged stating that he is no longer in UAE. Nitin Sandesara and family fled to Nigeria.
The top sources in the two agencies have reported that Sandesara and other family members were believed to be hiding in Nigeria. These family members included brother Chetan Sandesara and sister-in-law Diptiben Sandesara.
It will be quite difficult to bring him back from the African country. Nitin Sandesara and family fled to Nigeria. That’s because Indian does not have an extradition treaty or a Mutual Legal Assistance Treaty with Nigeria.
An anonymous officer said that there were reports of the detainment of Nitin Sandesara in Dubai the authorities of UAE. These reports date back to the second week of August. However, this information was incorrect. He was never detained in Dubai. It is being suspected that he and other family members probably left for Nigeria a long time ago.
The investigation agencies are still planning to send a request to UAE authorities asking them to “provisionally arrest” the Sandesaras if they are seen in their territory.
Efforts are being made to get Interpol red corner issues against the Sandesaras. It is still not known whether the Sandesaras travelled to Nigeria on Indian passports or that of some other country.
The CBI and the ED have booked Vadodara-based Sterling Biotech, its directors, Nitin, Chetan and Diptiben Sandesara, Rajbhushan Omprakash Dixit, Vilas Joshi, chartered accountant Hemant Hathi, former Andhra Bank Director Anup Garg and unidentified persons for cheating banks of Rs 5000 crores.
Allegedly, Nitin Sandesara and family fled to Nigeria after they set up more than 300 shell and benami companies in India and abroad. They were all used to divert loans. They have diverted huge amounts of money. Such scams must be stopped the government.
