MUMBAI, May 22: The Central Bureau of Investigation (CBI) has formed a special team led by deputy inspector general (banking frauds cell) Arup Patnaik to conduct investigations into the affairs of the CRB Capital Markets group.

The team, which includes superintendent of police SN Prasad, has begun investigations into the documents collected from State Bank of India, which has been defrauded of Rs 57 crore, CBI sources said.

The team is still tracing Bhansali. The extent of fraud committed by the CRB group could cross Rs 1,000 crore.

"We are going step by step to find out the extent of fraud committed by Bhansali during the last couple of years," sources said. Sources also claimed that a religious head from Jaipur, Tulsidas Acharya, had deposited Rs 15 crore.

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