The Central Crime Branch (CCB) recently made a significant breakthrough when they arrested three men, including two bank managers, on charges of orchestrating a bank fraud involving fabricated documents. The modus operandi of this fraudulent operation was to approve loans for nine individuals based on fake documents, resulting in severe financial losses for the targeted bank.
The key suspects in the recent arrest were identified as S. Kumar, also known as Sumanth Kumar, aged 45, hailing from Porur. Alongside him were Thutupalli Ravindra (51) and S. Raja Ranjith Kumar (42), both of whom were formerly employed with Bank of Baroda. These individuals were the masterminds behind the fraudulent scheme that led to the bank’s loss.
The earlier arrested individuals, who were part of the same deception, were B. Mala (21) from Adhanur, P. Balakrishnan (47) from Guduvanchery, S. Vignesh (32) from Ambattur, V. Muthuselvan (44) and his wife Sivaranjani (37), V. Srinivasan (46) and his wife Sankareshwari (40) from Korattur, and K. Sivaraj (41) from Kerala. They had cunningly taken advantage of plots located in M.G. Nagar, Adhanur, which were originally gifted to the Adhanur panchayat through legal gift deeds between 1989 and 1990 by K.C. Bose, a construction firm operator.
However, the fraudsters went to great lengths to create fake approvals from the Directorate of Town and Country Planning (DTCP) for these plots. They then presented these counterfeit documents to the unsuspecting loan applicants, who were unaware that the plots had already been donated to the panchayat. By falsely representing these plots as collateral, the loan applicants unwittingly availed loans in the name of fake companies set up by the scam artists.
As a result of this elaborate deception, the banks incurred massive financial losses, totaling ₹12 crore. Thankfully, the diligent efforts of the CCB led to the identification and subsequent arrest of the main perpetrators behind these fraudulent activities. Now, the legal authorities are determined to ensure that justice is served, and the culprits face the consequences of their dishonest actions in a court of law.
Prior to this, just last week, the CCB had already made headlines by arresting eight individuals, including three women, for their involvement in a similar scam. These eight individuals were accused of defrauding both South Indian Bank and Bank of Baroda, obtaining loans amounting to a staggering ₹12 crore through the use of counterfeit land documents.