Home Business Allahabad Bank reports $259 million alleged fraud by Bhushan Power & Steel Business Allahabad Bank reports $259 million alleged fraud by Bhushan Power & Steel By Genpie - July 13, 2019 119 0 Facebook Twitter Google+ Pinterest WhatsApp The Allahabad Bank on Saturday became the second Indian state-owned bank to report a major alleged fraud by bankrupt steelmaker Bhushan Power & Steel Ltd this month, adding to concerns about a banking industry burdened with bad debts.