STOCK MARKET BSE NSE

Loan fraud: Cops suspect involvement of bank officials, notaries

The police probing the multi-crore loan scam committed by a Tripunithura-based couple suspect the involvement of notaries, officials of national banks and document writers in the fraud.

Published: 17th October 2021 06:07 AM  |   Last Updated: 17th October 2021 06:07 AM   |  A+A-

fraud, loan fraud

Representational image (File photo | AP)

By Express News Service

KOCHI: The police probing the multi-crore loan scam committed by a Tripunithura-based couple suspect the involvement of notaries, officials of national banks and document writers in the fraud. The officials said they have also launched a parallel probe to find where the couple Reji Paulose and Ajitha Reji parked the money, suspected to be around `50 crore, that they raised by taking loans after pledging properties of other people. While Reji has been arrested, Ajitha has absconded.

“We expanded the probe after learning that Reji received support from others to commit the crime,” said an officer. Preliminary probe launched following complaints revealed that Reji and Ajitha pledged properties of other persons in banks using forged documents. The families of victims are now facing the threat of banks seizing their properties. The couple used to promise loan on property to people with poor CIBIL scores.

“Reji received help from document writers, notaries and some bank officials. An organised racket is behind the scam. More people are involved,” said an officer.  Meanwhile, complainants have decided to approach the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) seeking a detailed probe.

“Several bank officials are involved in the scam. We want a national agency to probe it. The accused have invested the fund in other ventures,” said Palluruthy native Manuel Jacob, one of the complainants.


TAGS
Loan scam

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

edexworks
flipboard facebook twitter whatsapp