E-Paper
Ludhiana: Former bank manager booked for embezzling ₹3.20 crore
They bank manager, in connivance with agents, faked salary slips and issued ₹3.20 crore as loan to 65 people, it was found. Ludhiana police have registered a cheating case and launched a manhunt,
A former branch manager of State Bank of India, Link Road branch, and his aides have been booked for embezzling ₹3.20 crore after fraudulently sanctioning 65 loans under Xpress credit scheme.
The police have booked former branch manager Rajesh Kumar, a resident of Bhai Randhir Singh Nagar; Arun Kumar and Avinash Kumar of Satjot Nagar, Amarjit Singh of Friends Colony, Sahnewal, and Harish Kumar of Janta Nagar.
The FIR has been lodged based on the statement of current branch manager Abhishek Jain. Jain said that while scanning records, they found that 65 beneficiaries of Xpress Credit Scheme had not paid even a single instalment. However, they were shocked to find that the beneficiaries were illiterate or labourers.
They found that Kumar, in connivance with agents, faked salary slips and issued ₹3.20 crore as loan to 65 people. The account holders said that they were unaware of anything and after the loan amount was debited to their bank accounts, the former manager withdrew the amount using the cheques.
The complainant stated that the loans were issued from July 16, 2018 to June 6, 2020. He filed a complaint with the police on April 12.
ASI Rajesh Kumar, who is investigating the case, said that the FIR has been lodged following an investigation. A cheating case has been registered and a hunt is on for the arrest of the accused.
