CBI lodges three bank fraud cases

New Delhi, July.03(HS): The Central Bureau of Investigation has registered three separate cases against the then Manager, Union Bank of India, Nayapalli Branch, Bhubaneswar and others for causing total loss of Rs. 24.17 crore to Bank.

The first case has been registered against the then Chief Manager, then Assistant Manager, then Manager, all of Union Bank of India, Nayapalli Branch, Bhubaneswar; four private builders; 27 borrowers of Housing Loan and unknown Bank officials/others.

The second case has been lodged against the then Chief Manager, then Assistant Manager, then Manager, all of Union Bank of India, Nayapalli Branch, Bhubaneswar; a private builder; ten borrowers of Housing Loan/CC Loan and unknown Bank officials/others.

While, the third case has been registered against the then Chief Manager, then Assistant Manager, then Manager, all of Union Bank of India, Nayapalli Branch, Bhubaneswar; three private builders; seven borrowers of Housing Loan and unknown Bank officials and others.

It was alleged that the said accused persons entered into a criminal conspiracy among themselves in year 2017 and in pursuance thereof, the accused abused their respective official positions in the matter of processing/ sanction/ disbursal of alleged housing loans.

It was further alleged that the borrowers/ builder submitted false/ fictitious documents/ information, including fake and fictitious ITRs defective KYC documents and information and the same were dishonestly processed and accepted by the Bank officials without any verification in violation with the bank guidelines or procedure. As such, a loss to the tune of approximately Rs.24,17,99,211.7/-(as on 31.05.19) was caused to the Union Bank of India. Searches were conducted at the residence and office of Bank officials as well of builders at Bhubaneswar,Puri,Raigadain (Odisha) which led to recovery of incriminating documents.