Amritsar cooperative bank manager, official booked for giving fake loans
The two were booked for their alleged involvement in a ₹18 lakh scam of giving agricultural loans to fake members.
Lopoke police have booked Amritsar Central Cooperative Bank manager, Ratan Singh, and Manjit Singh, secretary of Ajnala Agriculture Cooperative Society, for their alleged involvement in a ₹18 lakh scam of giving agricultural loans to fake members.
The complainant is assistant registrar of Cooperative Societies, Ajnala, Balwinder Singh, but his complaint had alleged the magnitude of the scam at ₹3.6 crore. The fake loans mostly pertain to Kotli Doom village in Ajnala tehsil.
Balwinder told HT, “We received a complaint from one of the 229 members of the agriculture society, alleging that the accused had been embezzling huge amount of money by giving agriculture loans to fake members.”
He added, “A team comprising two members of co-operative banks, two of co-operative audit department and two inspectors of co-operative societies was formed under my supervision to look into the complaint. Of 229 members to whom loans had been advanced, 192 cases were found fake. On such forged loans, Manjit and Ratan had withdrawn ₹3.6 crore.”
The First-Information Report (FIR), however, states that assistant registrar, Balwinder, had lodged his complaint with the police on April 7, stating that the duo had embezzled ₹18.92 lakh by withdrawing loans that had been advanced to fake members of the society.
The FIR adds that the case was registered after taking the legal opinion of district attorney (legal) and investigation from a DSP of Amritsar Rural police.
A case has been registered under sections 420 (cheating and dishonestly inducing delivery of property), 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 120-B (criminal conspiracy) of the IPC and sections 7 and 13 (C) of the Prevention of Corruption Act, against the accused.
