Uttar Pradesh Special Task Force (STF) on Saturday arrested a senior bank official for his alleged involvement in a large-scale loan scam executed under the Pradhan Mantri Mudra Yojana using forged documents and fake identities.
Nitin Chaudhary, a former branch manager of Union Bank of India, was posted as Credit Manager at the bank’s Basant Vihar branch in Delhi. He was arrested from Basant Vihar branch premises by a joint team of STF and Cyber Crime Police Station, Lucknow.
Background of Case
The complaint was filed by Raj Bahadur Gurung, a resident of Lucknow, at the STF headquarters. He stated that he had approached an intermediary for securing a business loan and had signed certain bank documents.
However, he was later informed that his loan application had been rejected. Shockingly, nearly five to six months later, he began receiving messages regarding pending EMI payments.
Upon checking his credit report, he found that two loans had already been sanctioned in his name without his knowledge or consent. He filed complaint with the authorities.
Acting on the complaint, STF launched an intensive probe under the supervision of senior officers. Technical surveillance and intelligence gathering exposed a well-organised interstate racket involving bank officials, middlemen, and document forgers.
The police found a syndicate working behind this scam. Investigations revealed that the syndicate fraudulently processed loans in the names of unsuspecting individuals by manipulating identity documents such as Aadhaar and PAN cards.
Photographs on these IDs were digitally altered and replaced with images of gang members, while forged signatures were used to complete the paperwork. The STF found that more than 100 individuals and entities had been targeted, with loans worth several crores sanctioned fraudulently across multiple banks.
Earlier in the case, on September 13, 2025, STF had arrested four accused, including another Union Bank branch manager, Gaurav Kumar, and registered a case at Cyber Crime Police Station, Lucknow.
Subsequent interrogation and analysis of seized documents led investigators to identify Aamir Ahsan as the mastermind of the operation. He was arrested on February 15, 2026.
Nitin Chaudhary, who had been absconding, was identified as a key conspirator and was finally tracked down and arrested from Delhi.
Additional SP, STF, Vishal Vikram Singh, said that during sustained interrogation, Chaudhary revealed that he had come into contact with co-accused Naveed, a vendor associated with the bank’s regional office, during his posting in Lucknow.
Their acquaintance soon turned into a criminal partnership aimed at earning money through fraudulent loan approvals.
The gang devised a systematic plan to exploit loopholes in the Mudra loan scheme. Fake firms were created to generate quotations required for loan approvals. These shell companies—controlled by Naveed and Aamir—served as the beneficiaries where loan amounts were transferred.
The police is investigating the case and more details will be released soon.
