CBI nabs prime accused in bank cheating cases

A 48- year-old accused involved in several bank fraud cases was finally nabbed by the CBI sleuths and produced at a CBI special court here. 

Published: 12th July 2019 06:23 AM  |   Last Updated: 12th July 2019 06:23 AM   |  A+A-

Handcuffs, arrest

For representational purposes

Express News Service

CHENNAI: A 48- year-old accused involved in several bank fraud cases was finally nabbed by the CBI sleuths and produced at a CBI special court here. Claimed to the prime accused in the Rs 4.22-crore bank loan fraud in the Indian Bank, Guindy branch, in 2012, Joseph Premkumar has also Central Crime Branch (CCB) cases pending against him, in which he swindled `28 crore from HSBC Bank. LS Sathyamurthy, XIII Additional Judge of Special Court for CBI Cases, remanded the accused.

According to special public prosecutor M V Dinakar, in 2012, Joseph Premkumar, by colluding with Indian Bank Manager Tomy G Poovatil, obtained Rs 4.22-crore loan from the bank for a bogus company named Health Foods with a fake address. After the entire loan amount was classified as non-performing asset, the bank, during an investigation, found that the company never existed and a cheating case was registered in 2014.

After the CBI took over the case, it was found that Joseph Premkumar, along with his driver Sureshkumar, carried out the entire plan in which they obtained the loan without submitting any collateral securities. A resident of Chennai,  Joseph  Premkumar also cheated the HSBC Bank in 2012, from which he took Rs 28-crore loan for bogus companies. The CBI registered cases against six people in the case in which only Joseph was absconding and the case is expected to come up in the following weeks.

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