This Article is From Mar 13, 2015

New Corporate Espionage Case Involves Finance Ministry, CBI Raids in Delhi, Mumbai

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New Delhi:

The Central Bureau of Investigation (CBI) conducted raids in Delhi and Mumbai today to investigate the alleged sale of confidential documents and information from the centre's Ministries of Finance and Commerce by government officials.

The new case of corporate espionage relates to documents on foreign direct investment or FDI, allegedly sold for financial gain by the officials to a Mumbai-based chartered accountant or CA, sources said.

Three people including the CA and a government official of the rank of under-secretary have been arrested, the CBI said. About Rs 60 lakh has reportedly been recovered from the residence of the chartered accountant.

Searches were conducted at four places in Delhi and two in Mumbai.

"I am shocked by the CBI raids, we will look at details and then respond," said Jayant Sinha, Minister of State for Finance.

Last month, the Delhi Police blew the lid off corporate espionage in the petroleum ministry. It has arrested 17 people in that case so far, including government employees, energy consultants and senior executives of top energy companies.

The CBI said the alleged involvement of more senior government employees than those arrested in the petroleum ministry case is being investigated in the new case.

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