Bengaluru, February 5: The Central Bureau of Investigation (CBI) has achieved a significant breakthrough by arresting a long-time fugitive. On Thursday, the CBI apprehended Krishnamurthy Raghunath in Bengaluru, who had been evading law enforcement for over 20 years in connection with three banking fraud cases in Kolkata.
Raghunath has been accused of evading legal action since 2005 and frequently changing his location. At the time of the fraud, he was the branch manager at the Barabazar branch of India Overseas Bank Limited (now Indian Overseas Bank) in Kolkata. According to the CBI’s investigation, Raghunath conspired with others to commit criminal acts. They opened false current accounts under fictitious firm names and embezzled bank funds, resulting in a loss of approximately ₹38.25 lakh. Charges of banking fraud, criminal breach of trust, and conspiracy have been filed against him, with the CBI already submitting a charge sheet in these cases.
Raghunath had been on the run since 2005, evading investigative agencies by constantly relocating. The CBI arrested him in a week-long special operation based on human intelligence and technical inputs, conducted across various locations in West Bengal, Maharashtra, and Karnataka. Following his arrest, he was presented in a local court in Bengaluru, where he was granted transit remand to be brought to Kolkata. He is scheduled to appear before the competent court in Kolkata on February 6, 2026.
According to the CBI, this arrest marks a crucial step towards curbing old fraud cases in the banking sector. The agency emphasized its ongoing efforts to apprehend fugitives, asserting that no one can evade the law indefinitely. The search for other individuals involved in this case remains ongoing.
This incident underscores the need for transparency and accountability in the banking sector. Despite the age of the 2005 case, the CBI’s persistent monitoring and use of technical intelligence have led to this success.