By Trend News Line 2024-03-19 18:49:02.
Bank Fraud Investigation Wing of Greater Chennai police Arrests Four for Cheating
The Bank Fraud Investigation Wing of Greater Chennai Police has made a significant breakthrough by arresting four individuals for cheating City Union Bank. The arrest came following a complaint filed by Vijayaganesh, the bank manager, who alleged that Vishnu Sharma, Samath bhai Sharma, and four others from a joint family were involved in obtaining a business loan of ₹7 crore through fraudulent means.
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Fraudulent Loan Obtained Through Forged Documents
According to the manager, the accused individuals, who run a jewellery shop in Avadi called Kamadhenu, submitted forged property documents to secure the loan. The investigation revealed that they had pledged a property of 3,474 sq.ft of vacant land in Vilinjambakkam, Avadi, to obtain the loan. However, they failed to disclose that there was a pending civil case related to the property in a Poonamallee Court.
Hidden Facts Lead to Unpaid Loan
Despite obtaining the loan, the accused failed to repay an outstanding amount of ₹3.15 crore to the bank. Their deceitful actions have resulted in financial loss for the City Union Bank, prompting the swift action of the Bank Fraud Investigation Wing.
Arrest and Remand in Judicial Custody
The police have arrested four individuals in connection with the case. The accused have been identified as Vinoth Sharma, aged 47, his brother Vivek Sharma, aged 41, and their respective wives. Following their arrest, they have been remanded in judicial custody as the investigation continues.
Justice Sought for Deceptive Acts
The arrest of the four individuals highlights the commitment of the Bank Fraud Investigation Wing to uphold justice and hold accountable those who engage in fraudulent activities. The City Union Bank hopes that this case will serve as a warning to others who may attempt to deceive financial institutions through similar means.
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Collaborative Efforts in Fighting Financial Fraud
The collaboration between the bank authorities and law enforcement agencies in uncovering the fraudulent activities demonstrates the importance of vigilance and cooperation in combating financial fraud. By working together, they can effectively identify and prosecute individuals who seek to exploit the system for personal gain.
Conclusion
The arrest of the four individuals involved in cheating City Union Bank serves as a reminder of the consequences of engaging in fraudulent activities. The Bank Fraud Investigation Wing will continue to work tirelessly to bring justice to those who seek to deceive financial institutions and undermine the trust of the public..
1. Bank fraud investigation process
2. Consequences of bank fraud.
