Gokulnath Shetty, a middle-aged bank manager of middling rank, spent his days in the foreign exchange department on the mezzanine floor of Punjab National Bank’s Brady House branch in Mumbai. It was there, past the loan desk and up a flight of stairs, that federal police say Shetty hatched India’s largest-ever bank fraud, which the bank values at nearly $2 billion and says was engineered between 2011 and 2017. The room where Shetty worked was visited on a quarterly basis by external auditors approved by the central bank, who sifted through documents but failed to spot any problem, according to interviews with two ... (full story)