Jabalpur (Madhya Pradesh): A former manager of Union Bank of India (UBI), along with two aides, has been booked for allegedly embezzling nearly Rs 7 crores by approving loans under Mudra Loan scheme and Prime Minister Employment Programmes on fraudulent names in Jabalpur on Wednesday.
The former manager of the bank named Kamal Mishra, along with two accomplices, is accused of embezzling approximately Rs 7 crores. As per EOW's investigation, Mishra approved a loan of Rs 10.45 lakh and a cash credit of Rs 13.30 lakhs under the Prime Minister's Employment Generation Programme (PMEGP) for Rekha Nayak. Nayak allegedly took the loan for opening an Atta Mill in Dobi village, Mandla, but no such mill was found during the investigation.
Kamal Mishra, manager |
The location for which the loan was sanctioned was outside the jurisdiction of Vijay Nagar branch. Additionally, Mishra, along with Nayak and Matani, allegedly collected Aadhar cards, PAN cards, and other documents from multiple individuals.
Based on these documents, they secured approvals for Rs 25 lakhs under the PMEGP and Rs 10 lakhs under the Mudra Loan scheme. The complaint was filed by Amit Shrivastav, the Deputy Regional Head of Union Bank of India, Nepean Town, on August 1.
The Economic Offenses Wing (EOW) has registered a case against Kamal Mishra, the former branch manager, Rekha Nayak, proprietor of Rekha Trading Company, and Suresh Matani, under corruption prevention laws and fraud charges.
EOW's investigation revealed that the trio, in collusion, defrauded the bank of Rs 6.9 crores. Charges have been filed against them accordingly.
