Thrissur: RS 100 Crore’s loan fraud has been reported at a cooperative bank in this Central Kerala Regency, after which police have registered a case against six bank officials and launched an investigation.
The accusation of fraud was raised against the co-operative bank caravannur, controlled by the powerful CPI (M), in Irinjalakuda here.
After several people including local customers raising concerns about bank functions, audits have been carried out there recently, where the accusation was reported completely true.
During inspections, it is also found that loans are approved on properties that are guaranteed by local customers without their knowledge and the loan amount is credited several times to the selected account, the source said here.
Based on the audit findings, the President of the Bank filed a complaint with the police, the source added.
A senior police officer said according to complaints, cheating up to almost Rs 100 Crore had been found.
“It was considered a fraud that had continued over the past few years.
So, we can find the right number of fraud only after the inspection and inspection of the loan document,” the officer said.
This case was registered against six bank officials, including the Secretary of Bank, which has been placed under the suspension of the allegations, he said.
Some parts of the IPC include 420 (cheating), 471 (using forging documents as genuine) and 120 b (criminal conspiracy) slapped against them.
He said the case would be submitted to the crime branch for further investigation because of cheating up to several crores rupees were suspected of being fraud.
Following allegations, the committee of 13 members of Marxist ruled bank was dissolved.