Indore: Man, bank officers booked for fraud with nephew

Indore (Madhya Pradesh): Bhanwarkuan police registered a case against a man and two bank officers for fraud with his nephew, police said on Saturday. The grandmother, who was the owner of a trading company, had borrowed a loan of Rs 40 lakh on the basis of two properties but the accused fraudulently freed his property and made the complainant liable to repay the entire loan amount. The police are investigating the case further.

 According to the police, Mayuresh Garg, a resident of Old Agrawal Nagar area has lodged a complaint that his grandmother was the owner of a company and had borrowed a loan of Rs 40 lakh from a private bank in 2011. She had shown her two properties as a guarantee of the loan at that time.

Mayuresh alleged that his uncle Shyam Garg with the help of two bank officers managed to get his property freed from the loan and thus leaving the other property, where the complainant is living, liable for the loan. When the complainant came to know about the same, he lodged a complaint with the police. A case under various sections has been registered against three persons and further investigation is underway into the case.