Narendra Rastogi to be extradited from United States

India is all set to send a team to the United States to get extradited Narendra Rastogi, who has been accused by the Central Bureau of Investigation (CBI) of defrauding the exchequer of over Rs 43 crore.

New Delhi, June 8 : India is all set to send a team to the United States to get extradited Narendra Rastogi, who has been accused by the Central Bureau of Investigation (CBI) of defrauding the exchequer of over Rs 43 crore.

The American authorities have asked their Indian counterparts to send a team for his extradition.

Rastogi and his brothers including London-based businessman Virendra were into exporting scraps to CIS (Commonwealth of Independent States) countries.

The CBI has been in hot pursuit of the four Rastogi brothers - Virendra, Narendra, Ravindra and Subash - since early 2000, and will now bring back the third brother to India as his sentence in the US is near completion.

The CBI team led by the then Joint Director Neeraj Kumar had collected strong evidence before charge sheeting them in the case. The CBI had then also managed to arrest Subash Rastogi and get extradited another brother Ravindra from Dubai.

In May 2002, the FBI had arrested Rastogi and three others for defrauding banks around the world of an estimated 600 million dollar by obtaining finance for sham transactions and then pledging them as collaterals for loans.

The US Federal agency had also sent a request to the CBI to give details about the frauds committed by him in India before he fled to the US.

When he was about to be extradited to India, the accused pleaded guilty before a New Jersey court, which sentenced him to imprisonment till June 2008.

ANI