Bhopal: Financial fraud under govt scheme; retired bank manager hiding in Punjab arrested

The accused and his accomplices had tampered with the documents to take share in loan subsidies offered under a government-run scheme, police said on Tuesday.

Staff ReporterUpdated: Wednesday, September 21, 2022, 12:12 AM IST
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Bhopal (Madhya Pradesh): A former manager of a nationalised bank was recently arrested from Patiala in Punjab after three years of search by MP Nagar police. 

The accused and his accomplices had tampered with the documents to take share in loan subsidies offered under a government-run scheme, police said on Tuesday. 

According to police station incharge Sudhir Arjariya, Ganesh Mankar had filed the complaint to the police in 2017. The complainant had said he visited a nationalised bank to take a business loan of Rs 2 lakh. In the bank, he came to know that he had already taken out a loan under the scheme in 2010 and his account had become a non-performing asset. 

The police registered the case under Sections 420 and 34 of IPC and started investigation. 

When the police followed the trail, they found that the loan amount was given to one Disha Trader of Govindpura. The police arrested the accused who operated the account of Rakesh Batham. 

The police arrested the trader Rakesh Batham and the loan officer of bank Vinod Kumar Peshwani in September 2021. They told the police that the whole scam was planned by JS Mehra who was bank manager from 2008 to 2011. 

The main accused Mehra was transferred to Patiala a few years back. After retirement, he was living in a rented house to evade arrest though he owns properties in Bhopal and Delhi. 

 The police arrested Mehra on September 17 from Punjab and his associate Manohar Advani on September 19. Manohar had helped the manager to prepare fake documents to obtain a loan. 

Little money big risk

Under the scheme, if a loan is taken, the beneficiary has to pay back Rs 1.50 lakh. The rest amount is adjusted as a subsidy. Under the scheme, Rs 2 lakh were taken as loan and Rs 1.50 lakh were deposited back. The remaining amount of Rs 50,000 was shared among four accused.

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