6 held for forging papers to borrow Rs 1.06 crore from SBI

The city crime branch police has arrested 6 members of a gang that produced fake documents to borrow Rs1.09cr from State Bank of India, (Ramnagar, Maniyakarampalayam and Ganapathy branches) towards car loans. However, the gang spent the money on various nefarious activities. Police suspect some of the bank staff to be involved in the fraud. Six others are absconding and police have formed a special team to nab them.

The arrested have been identified as V Muralidharan alias Manickam, 36, S Dhaneshkumar, 31, S Shanmugasundaram, 33, from Ganapathy, S Kumarasamy, 48, from Kinathukadavu, S Thangaraj, 68, from Gudalur village near Perianaickenpalayam and S Murugan, 32., from Ganapathy.

According to police, SV Karthikeyan, 30, and M Sethuram alias Ravi, 38, from Vadavalli are the master minds behind the fraud. Karthikeyan was working in a auto showroom located on Trichy Road here. He forged invoice documents of the showroom and developed close relationships with SBI officials. He also made fake ration cards, voter identity cards, generated fake property tax receipts, Income tax returns statements and hypothecation forms.Karthikeyan and Ravi approached ten people with the offer to arrange car loans for them from various branches of SBI for a commission that would be worked out as a percentage of the car loan. The victims trusted them and agreed to apply for car loans across the three branches of SBI. The bank officials sanctioned Rs1.09cr to them without verification of the documents. Lakhs of rupees were allegedly given to the bank officials to process the car loans.

When the ten people received their car loans, they paid the commission due to the duo and spent the rest of the money, failing to pay loan amount to the bank. When senior bank officials verified the documents submitted to avail the loans, they realized that they were fake.

They approached the city police commissioner AK Viswanthan who ordered appropriate action against the cheaters. CCB Inspector S Mariamuthu conducted a detailed inquiry and registered a case against 12 members of the gang and arrested six people on Monday. Karthikeyan, Sethuram, Suresh Anand, 31 from RS Puram, J Ravi, 50, from Sullivan street, K Sathishkumar, 30, from Perur and G Anandakumar, 30, from Telungupalayam are absconding. Police have formed special teams to nab the absconding accused.

Inspector Mariamuthu said that a detailed investigation is on in connection with the cheating case. “We have to inquire bank officials and appropriate action would be taken against those who involved in the case,” said Mariamuthu.

Source: indiatimes