Misappropriation of Rs 80 million of Bramer Banking Corporation - The modus operandi of fraudsters

Following an investigation carried out efficiently for five weeks, 22 people were arrested and nine vehicles seized. The mechanism was well established. 

For more than six months, this group of friends turn away millions of rupees to Bramer Banking Corporation. They have benefited from internal collusion, namely that of Younousse Kotoaroo, 24, officer of bank holding offshore accounts and his colleague, Irfaan Hausmuddy 27. 

The alleged mastermind is Prakash Chandra Dip, 26, who n is none other than the son of the Assistant Commissioner of Police, Anil Kumar Singh Dip. Chandra became notorious after having trouble with the police as part of an alleged embezzlement of Rs 11 million at the expense of Barclays Bank in 2008. 

According to the information available to investigators is that the outside Chandra Prakash Dip led operations. Moreover, Younousse Kotoaroo was charged. This is their modus operandi. Firstly the key role of the case was given to Younousse Kotoaroo. He proceeded to transfers of millions of rupees. He drew the money offshore accounts of clients he had at his expense. False Money Transfer Orders were made. Were visited five accounts, which means an amount of over Rs 80 million diverted. For the signature, as everything goes on electronic platform, it was not enough as "Cut and Paste". According to sources, Younousse Kotoaroo enjoyed using Irfaan Hausmuddy. 

He helped him to prepare the fake Money Transfer Orders. The next step was to take the money embezzled. To do this, a dozen dummy companies were created. The money was transferred to the accounts of these companies. The beneficiaries had to make withdrawals.

The embezzled money was used for the acquisition of several sports cars, tuning accessories art, race car engines and finance their luxury lifestyle.

The roses in the pot were discovered by a customer holding Angola and U.S. passport. The latter found that it lacked the $ 725 000 USD (Rs 21 million) on its behalf. He informed the Bramer Banking Corporation. The file is referred to the Mauritian branch that triggers an audit trail soon.

According to sources, the writing of Irfaan Hausmuddy is found on some documents. During his interrogation, he will confess. On 18 August, the bank goes on the offensive. An officer was dispatched to the Central CID to record a statement. The Bank of Mauritius was also informed of these irregularities. A survey conducted under the supervision of ACP Pregassen Vudamalay is activated and the case is closed CCID highly confidential. 

The investigation is progressing rapidly

In five weeks of investigation, arrests rain. 22 suspects were arrested and charged, we learn from authoritative sources to central fire station. Among Younousse Kotoaroo, 24, Chandra Prakash Dip, 26, the alleged mastermind and his mother, Chandini Dip, one of the alleged beneficiaries. It is through the practice of "tracking" that the accounts of the beneficiaries were identified. He reveals details of the transfers. To date, nine vehicles were seized and the amounts of Rs 100 000 and 1 800 USD (Rs 50,000) were recovered. The Bramer Banking Corporation does not stop there.

According to sources, the bank will proceed with the seizure of property, including plots of land valued at Rs 5 million, the police suspect to have been purchased with the embezzled money. The direction of the Bramer Banking Corporation would not comment on the case because the investigation is ongoing. 

The suspects: 

Chandra Prakash Dip (the instigator) Aged 25, he is the son of the ACP Anil Kumar Dip Singh.Chandra Prakash Dip is considered the alleged mastermind and the "Intelligent Fellow" of the band. His arrest follows the confession Younousse Kotoaroo, author and one of alleged accomplices. It said in his deposition that Chandra Prakash Dip it said how to transfer money to fictitious companies before pocketing. In its defense, in the presence of Avoca, Me Baloomoody Veda, Prakash Chandra Dip denied any involvement in this matter. 

Younousse Kotoaroo (author and alleged accomplice of the fraud)

The 24 year old male, resident of accreditation, St. Peter, is suspected of being the perpetrator of the fraud under instructions from Chandra Prakash Dip. He was arrested by the CCID at the airport on his return from Malaysia. He is confessed. In his testimony, in the presence of his lawyers, My Rama Valayden and Rouben Mooroongapillay, Younousse Kotoaroo admitted embezzling the sum of Rs 80 million. He said he transferred money to fictitious companies and designated as Dip Chandra Prakash the instigator of the fraud. The police suspected of having acquired a dozen vehicles. Younousse Kotoaroo remains in detention. It is the subject of a provisional charge of wire fraud. According to our cross, he could be prosecuted for money laundering. 

Irfaan Hausmuddy Mohammad, 27 (another alleged accomplice) 

Was betrayed for the first time at the bank. His writing was found on incriminating documents while the bank was conducting its investigation. He admitted the facts alleged against him. He admitted to police Younousse Kotoaroo helping in the preparation of false "Bank Transfer Orders." In return he was rewarded with several cars. 

Chandini Dip (a presumed beneficiaries)

His arrest on Monday, marked a turning point in this investigation. Because it is none other than the wife of Anil Kumar ACP Dip. A preliminary charge of conspiracy was lodged against her. She was released on bail. His arrest followed the discovery of documents in the exercise of "Tracking". They report the transfer of money on a fictitious companies it manages. According to our overlap, the sums of Rs 15 million have been transferred to the account of his company.

The other intended beneficiaries

Police suspect Saif Ullah Maulaboksh, Taleb Maulaboksh, Mulloo Dharmendra, his wife Parmeshwaree Mulloo, Sanjay Kumar Mulloo, Trilockinad Fowdur, of pocketing money from this diversion of funds through fictitious companies. 

Those who have obtained cars 

This is Ume Hausmuddy Bibi, wife of Irfaan Hausmuddy, Bibi Zaynah Kawthum Boodwah, Bawansingh Dip, aka Avinash, are believed to have received cars purchased with stolen money. Close Younousse Kotoaroo, Bibi Zaynah Kawthum Boodwah would have obtained a brand new Citroën DS while Yogesh Dip, cousin of Prakash Chandra would he acquired a Mitsubishi Evolution. Noelle Marie Rioux (Maker Company) would be that which would have carried out administrative procedures for recording some of these fictitious companies. 

Those who have handled the stolen money 

Sadeck Kotoaroo, Bibi and Hasinah Kotoaroo Nubeel Kotoaroo, father, mother and brother Younousse Kotoaroo are suspected of having manipulated the money embezzled. 

The other suspects arrested  

Among the other arrested suspects include Firyaal Boolaky Bibi, wife of Younousse Kotoaroo, Ameena Bibi Goolap, and Abdalla Seedeer Cushtar Dowlut Iqbal.