Wednesday, May 31, 2017

Cheating case: Bank accounts of HC ex-judge, brother frozen

Mumbai: The Azad Maidan police, probing a cheating and forgery case involving former Bombay HC Justice Michael Saldanha (74) and his younger brother Mark (70), have frozen several of their bank accounts and blocked the accounts they had been operating for mutual funds.
The HSBC Bank complained last year to the Azad Maidan police which booked Saldanhas for allegedly siphoning Rs 2.29 crore worth shares from their deceased older brother Patrick's demat account and transferring the proceeds to their accounts.The sessions court had earlier rejected their plea, holding that they “illegally and fraudulently and by forging and impersonation transferred a huge amount“ from their brother's account.

Last October, the Bombay HC granted interim anticipatory bail to Michael and Mark.“While the siphoned money was kept in some bank accounts, a portion of it was invested in mutual funds. We wrote to the banks concerned and froze the accounts. We also got the mutual funds blocked,“ said an officer.

“There are other accused too who forged documents like power of attorney after the death of their brother (Patrick),“ said the officer. Patrick (81) died on February 18, 2016. The prosecution said the shares were without documents like heirship certificate or will, and by representing that Patrick was alive between February 18-August 18, they presented forged delivery slips, cheques and a power of attorney . Michael was a Bombay HC judge between 1990-94 and Karnataka HC judge till retirement in 2004.

The Times of India, May 31, 2017


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