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March 20, 2024 12:19 am | Updated 12:19 am IST – CHENNAI
The Bank Fraud Investigation Wing of Greater Chennai Police on Monday arrested four persons for cheating by obtaining a business loan by submitting forged documents at City Union Bank.
They were arrested following a complaint lodged by Vijayaganesh, bank manager, City Union Bank. The manager alleged that Vishnu Sharma, Samath bhai Sharma and four others are a joint family and they run Kamadhenu jewellery shop at Avadi. They obtained a business loan of ₹7 crore by submitting forged property documents and obtained it. Thereby they cheated the bank without repaying the loan amount.
The investigation revealed that they obtained a loan by pledging the property of 3,474 sq.ft of vacant land located at Vilinjambakkam in Avadi. The bank said that they hidethe fact that a civil case was pending on this property in a Poonamallee Court and submitted the property documents. They failed to repay ₹3.15 crore as on date.
Police arrested four persons who have been identified as Vinoth Sharma, 47, his brother Vivek Sharma, 41 and their wives. They were remanded in judicial custody.
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