Three people are facing trial over an elaborate fraud scheme that allegedly tried to cheat National Australia Bank out of more than $21 million through fake bank vouchers.
Monika Singh, 42, Davendar Deo, 68, and Srinivas Naidu Chamakuri, 51, attended Sydney's Downing Centre District Court today where a jury was chosen for the two-month-long trial.
"In terms of the crown case, it concerns allegations that the accused … engaged in various fraudulent activities," said crown prosecutor Andrew Norrie. The three co-accused have been charged with knowingly participating in a criminal group between September 2018 and October 2020 with the intention of defrauding NAB.Monika Singh departs the Downing Centre District Court in Sydney. They are accused of trying to defraud NAB in 2019 of almost $16.9 million by depositing internal suspense account vouchers from the bank without its authority.
The pair also allegedly conspired with each other to defraud iFRC Bank & Trust by using a fraudulent NAB stand-by letter of credit for $US50 million.Davendar Deo departs the Downing Centre District Court in Sydney.
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