New Delhi: The CBI has arrested an absconder in a 20-year-old bank fraud case as he was returning from Canada under an assumed identity, officials said on Tuesday.

Central Bureau of Investigation (CBI) said Vinay Kadam, wanted in the bank fraud case in Ahmedabad, was nabbed at Goa airport when he landed with a Canadian passport with the assumed identity of Reagan Rollin.

The agency had also issued a Look Out Circular (LOC) and a Red Corner Notice (RCN) against Kadam.

“The CBI had registered a case on November 12, 1997 against six persons, including four bankers,” CBI spokesperson R K Gaur said on Tuesday.

According to Indian media reports, the CBI said that Kadam was director of Spav Fisheries in Mumbai when he helped Rajendrasingh Mansingh Raolji, the then director of Ahmedabad-based real estate company Mira Builders, to defraud the bank.

“The accused (Raolji), along with other private individuals, set up six or seven fake companies which had zero bank balance. The dummy directors of the companies issued 31 cheques worth 3.77 crore [37.7 million] rupees and the money was withdrawn with active connivance of some bank officials,” Gaur said.

Kadam fled to Canada and assumed an identity on which a passport of that country was also issued.

Kadam was arrested in Goa while travelling on the passport, the sources said.

“It was further alleged that the absconding accused was a proclaimed offender and an LOC was opened against him. Later, an RCN was also issued against him and an extradition proposal was also sent to Canada,” Gaur said.

(PTI and other media reports)