CBI charges ex-banker in Rs 15-crore fraud
TNN | Jul 7, 2018, 01.23 AM IST
Chennai: Central Bureau of Investigation (CBI), Chennai, on Wednesday booked a former senior manager of Bank of India’s Ooty branch, who was found to have given loans to the tune of Rs 15 crore to 58 accounts of people who had applied for floriculture activity. Some of the loans were sanctioned without submitting a collateral.
The FIR states that S Sivakumar, who was terminated from service in February 2017, had abused his official position and violated the bank’s procedures to provide 58 loans of Rs 24.75 lakh each and two other loans of Rs 10 lakh and Rs 16.5 lakh from July 2012 to April 2014 for cultivation of flowers, conniving with Rajan, owner of Growwin Flori tech. CBI said the borrowers had approached the bank’s Udhagamandalam branch through Rajan. The project reports were prepared by Growwin and submitted to the branch.
Sivakumar did not do cross check the documents and find out about Growwin’s track record, the FIR stated. Individual borrowers said they did not receive the money and no construction was made by Growwin. Rajan is absconding and was found to have cheated other banks in a similar manner, CBI said.
TNN | Jul 7, 2018, 01.23 AM IST
Chennai: Central Bureau of Investigation (CBI), Chennai, on Wednesday booked a former senior manager of Bank of India’s Ooty branch, who was found to have given loans to the tune of Rs 15 crore to 58 accounts of people who had applied for floriculture activity. Some of the loans were sanctioned without submitting a collateral.
The FIR states that S Sivakumar, who was terminated from service in February 2017, had abused his official position and violated the bank’s procedures to provide 58 loans of Rs 24.75 lakh each and two other loans of Rs 10 lakh and Rs 16.5 lakh from July 2012 to April 2014 for cultivation of flowers, conniving with Rajan, owner of Growwin Flori tech. CBI said the borrowers had approached the bank’s Udhagamandalam branch through Rajan. The project reports were prepared by Growwin and submitted to the branch.
Sivakumar did not do cross check the documents and find out about Growwin’s track record, the FIR stated. Individual borrowers said they did not receive the money and no construction was made by Growwin. Rajan is absconding and was found to have cheated other banks in a similar manner, CBI said.
No comments:
Post a Comment