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Bank Of Baroda Refute Claims Of Fraud

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Bank of Baroda has refuted claims that it’s directors are engaged in fraudulent activities. This follows publications on local blogs that claimed that the directors A Saravanakumar, Ravi Kant Pathak and Rameshchandra Chunilal Meht were allegedly targeting customers who’ve borrowed from the bank and harassing them.

The blogs claim that the trio nicknamed ‘Three Maharaja Musketeers’ brag they are untouchable as they have the direct blessings of the banks Chairman Dr. Hasmukh Adhia and Shri Sanjiv Chadha, Managing Director & CEO therefore can do as they wish.

The blogs also claimed that the bank’s management are in bed with corrupt judiciary officials whom they allege are being bribed to make rulings in their favor. A High Court judge has been adversely mentioned in the numerous blogs as having been allegedly bribed to rule in favor of the lender.

A representative of GlassHouse PR who’re representing Bank of Baroda told Kenya Insights that the claims are untrue. He went further to say the firm was working with Communication Authority to bring down the pages that had exposed the story of the bank’s activity. It is however unclear why they opt to have the pages pulled down instead of addressing the matter or better yet sue for defamation if the claims on the blogs are untrue.

Some of the tactics that corporates and individuals use to silence criticism and whistleblowing includes DDOS attacks and backdoor censorship using CA because this is Kenya and government institutions are extremely corrupt.

As Baroda Bank engage PR firms to salvage the situation, it is empirical for the anti-banking fraud unit, EACC, DCI and relevant investigative authorities to look into the claims made to determine if they’re true or false. This is in the best interest in protecting the depositors who’re often the casualties in banks collapse.

The claims of a judicial officer getting bribed is grave and must not be taken lightly, JSC should take the matter up and do their due diligence as the judge in question has a past history of bribery complaints.

All this coming at a time when #SonkoLeaks revealed how corrupt the judiciary is with judges openly negotiating and taking bribes for favorable judgments. The justice for sale fraud has seen many suffer and as the corrupt have their way.

People work hard and their investments must be protected from rogue management. It is from insider dealings, fraud that left thousands of depositors in Chase Bank, Imperial Bank the list is long, to grind their teeth because the red flags were ignored and when the bubble came to burst, it was too late.



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