Rs 5000 cr bank fraud: Nitin Sandesara, family might be in Nigeria, says report
New Delhi, Sept 24 (IBNS): Owner of Gujarat-based Sterling Biotech, Nitin Sandesara, who is accused in a Rs. 5000 crore bank fraud, might have fled to Nigeria, media reports said.
Reports said Sandesara is not in the UAE.
Along with Sandesara, his family might also be hiding in Nigeria.
Bringing Sandesara and his family from the African country will be difficult for India as it does not have an extradition treaty with Nigeria.
An officer told The Times Of India, "There were reports that Nitin Sandesara was detained by UAE authorities in Dubai in the second week of August. I was (an) incorrect information. He was never detained in Dubai. He and other family members probably left for Nigeria much before that."
The Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) have booked Sterling Biotech, its directors Nitin, Chetan and Dipti Sandesara and others for cheating banks of Rs. 5000 crore.
The investigation agencies are, however, planning to request UAE to arrest Sandesara and his family if they are seen.
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