India's Central Bureau of Investigation (CBI) has filed a case involving letter of credit (L/C) fraud against six people.

They are accused of defrauding Union Bank of India of the equivalent of around US$2.68 million.

False documents

The six people accused are from Uttar Pradesh. They are alleged to have defrauded the bank by using false documents to obtain a credit line and one or more L/Cs from the bank.

A CBI spokesman says the accused include Santosh Kumar Jain of the Alka Group of Companies and five others.

Searches

The accused have been charged under various sections of India's Penal Code and Prevention of Corruption Act.

The CBI has searched several locations and claims to have recovered documents showing false account books, balance sheets, invoices, receipts and statements.

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