Rs 2.62 Crore Loan Scam Uncovered at Prathama UP Gramin Bank’s Pakbada Branch
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A big case of fraud worth ₹2.62 crore has been uncovered at the Pakbada branch of Prathama UP Gramin Bank in Uttar Pradesh. According to an internal investigation by the bank, the former branch manager, Sajid Ali, approved business loans using fake balance sheets and incomplete documents.
What Happened?
During a routine internal audit, the bank found that multiple loans were sanctioned without following the proper rules. The audit revealed that Sajid Ali, who was the branch manager from November 5, 2022, to May 10, 2024, had approved 24 different loans without proper paperwork.
- The total amount of loans given was ₹2.62 crore.
- These loans were approved based on false financial statements.
- In many cases, important documents and stock insurance were missing.
- This put the bank’s money at serious risk, as there was no proper security against these loans.
Police Case Filed
The current senior manager of the bank, Yogesh Kumar, who lives in Buddhi Vihar, Majhola, filed a complaint against 24 people, including Sajid Ali. On his complaint, the Pakbada police station registered a case under the direction of the Director General of the Economic Offences Wing, Lucknow.
Yogesh Kumar mentioned that these loans were not just irregular, but clearly showed signs of fraud and embezzlement.
Who Took the Loans?
During Sajid Ali’s time as manager, loans were given to the following individuals and companies:
- Mohd. Shahroon Haroon
- Mohd. Faiz
- Mohd. Anas
- Mohd. Irfan
- Mohd. Sharif
- Mohd. Yamin
- Nazim
- Mohd. Abid Subhan
- Shahida Begum
- MS, MA Construction and Supply
- Parveen Jahan
- Mujassim Ali
- Irshad
- Naushad Hussain
- Akash Deep
- Nisar Ali
- NM Furniture
- Aman Kantson
- Mohd. Sahil
- Ramesh Singh
- Mohd. Imran
- Rashid Hussain
- Mohd. Zarrar
These people allegedly received business loans without fulfilling the proper legal and financial conditions.
What Were the Main Issues?
- Fake balance sheets were submitted for loan approval.
- No stock insurance was taken against the loan, which is required for business loans.
- Essential bills and documents were missing or forged.
- The entire loan process was done without proper verification, violating bank policies.
This case has highlighted serious lapses in banking practices and has raised questions about internal controls in rural banks. An official FIR has been registered, and an investigation is underway. The authorities are now expected to take strict action against those involved in this multi-crore scam.