Balrampur: Police have taken swift action in a loan fraud case involving fake quotations, arresting three individuals, including the branch manager of Indian Bank. The arrests were made within 24 hours of the complaint, earning praise from SP Vikas Kumar for the prompt response by the Nagar Kotwali police team.
The Case
ASP Namrita Srivastava detailed the incident, stating that Vivek Kumar, a resident of Mohalla Gadurahwa in the Nagar Kotwali area, had applied for a business loan of ₹9.5 lakh through his friend Maruf, a resident of Mohalla Purainia Talab. Despite not receiving the loan amount, Vivek noticed installments being deducted from his account. Concerned, he lodged a complaint with Nagar Kotwali police.
Investigation Uncovers Fraud
During the investigation, police uncovered that Maruf, Abdul Ghani (proprietor of Makrani Traders), and Kulbhushan Asthana (then branch manager of Indian Bank, Balrampur) colluded to defraud Vivek Kumar.
- The trio created fake quotations and processed the loan under Vivek’s name.
- The sanctioned loan amount was transferred to the account of Makrani Traders in two installments: ₹3.8 lakh and ₹5.5 lakh.
- Abdul Ghani subsequently transferred the funds from the Makrani Traders account to Maruf’s personal account.
The investigation revealed that the loan amount was divided among the three accused, with the branch manager playing a key role in facilitating the fraud.
Arrests and Confession
The accused—Maruf, Abdul Ghani, and branch manager Kulbhushan Asthana—have been arrested. During interrogation, they confessed to misappropriating the loan amount by forging documents and defrauding the complainant.
Police Action
The Nagar Kotwali police have registered a case against the accused under relevant sections of fraud, forgery, and criminal conspiracy. Further investigations are underway to ascertain if more individuals or similar fraudulent activities are involved.
This incident highlights the importance of vigilance in banking transactions and serves as a reminder of the severe consequences of financial crimes.
