Ludhiana: Former SBI manager, Link Road Branch, and his accomplices have been ordered for embezzlement Rs 3.2 Crore with sanctions 65 loans under the Xpress credit scheme using fake documents.
Bank officials filed complaints with Moti Nagar police.
This loan was sanctioned between July 2018 to June 2020.
The defendant was a former branch manager of Rajesh Kumar from BRS Nagar, Arun Kumar, Avinash Kumar from the Satjot Nagar, Amarjit Singh from Sahar and Kumar Harmer from Janta Nagar.
The current branch manager Abhishek Jain said while checking the record, he found that 65 recipients of the Xpress credit scheme had not paid enough installments.
When approaching them, they learned that all 65 illiterate people and workers, while this scheme was intended for salary class.
Furthermore they found that Rajesh Kumar and his accomplice falsified the 65 people’s slip and issued Rs 3.20 Crore as a loan to them.