Seven arrested for Rs72 lakh bank fraud

Keonjhar: Police today arrested seven persons on the charge of bank fraud to the tune of Rs72 lakh from Syndicate Bank’s Keonjhar branch in 2011-12.

According to sources, the bank had provided loans to 11 persons towards purchase of a tractor in 2011-12. However, the documents submitted by these persons to avail the loan were found fake during the audit of the bank. Later, the branch manager of the bank Pratap Chandra Giri lodged a complaint with the Keonjhar town police in October 2014.

Acting on the complaint police had registered cases against 14 persons. In course of investigation the police today arrested 7 persons.

However, the arrested persons have claimed that they had submitted the original land documents at the time of applying for loan. They also claimed that the documents shown by the police do not belong to them.