CBI now on the lookout for two Rastogi aides

Tag : Non-ferrous Metal

After rigorous interrogation of big-time economic offender and CEOof an international metal trading company, Narendra Rastogi, forover a week, the Central Bureau of
Investigation (CBI) has now launched a manhunt for two of hisaides.
Rastogi was extradited from the US earlier this month and wasremanded in CBI custody till July 11 in connection with the Rs50crore customs duty evasion case and 13 other cases of fraudregistered across Delhi and Mumbai.
According to sources in the CBI, the two aides of Rastogi (nameswithheld for investigation purpose) had allegedly connived withRastogi in regard to the offences registered against him and theirarrest could possibly yield more information on the links in thenetwork that Rastogi and his three brothers had successfully set upto further their dubious business interests.
The two Rastogi aides have so far managed to evade arrest and weare currently on the look out for them, said
CBI deputy inspector general (Economic Offences Wing) Rahul Sharma.
However, Rastogi claimed he had mostly forgotten about hisconnections back in India because of his long stint in America.
Rastogi was wanted by the CBI for causing losses to the Indianexchequer by way of faking documents while exporting non-ferrousmetal to various countries around the globe.
Citing a Federal Bureau of Investigation (FBI) press release (datedMarch 6, 2008) DNA had earlier reported that Rastogi and hisbrothers controlled hundreds of bogus companies around the world(referred to as Allied Deals) to serve as false purchasers ofmetals from Allied Deals so that the defendants could obtain loanfrom banks.
Earlier, Rastogi served a sentence in America in regard to a spateof anti-trust offences involving over $ 680 million in lossescaused to 20 banks. He was brought to India following thetermination of his sentence in the US.