Bengaluru: Sleuths from the Central Crime Branch, probing the alleged loan scam at Hanumanthanagar Cooperative Bank, recently filed a chargesheet naming more than 10 accused persons.
According to the chargesheet, the accused swindled money worth Rs 3.7 crore by granting loans to individuals who produced forged documents. The accused availed of huge amounts of commission from the persons who were sanctioned loans.
The scam came to light in Oct last year, and investigations revealed that borrowers pledged fake documents of lands and houses for loans. The bank officials, who were aware that the documents were forged, allegedly sanctioned the loans. “Normally, the loan was sanctioned in four instalments. While one instalment was given to the borrower, the remaining three were shared between bank officials, agents, and others,” a CCB officer said.