Chennai:
The Enforcement Directorate attached eight immovable properties in the
city worth Rs 12 crore after anti-corruption branch of Central Bureau
of Investigation unearthed a housing loan scam.
The properties consisted of 80 residential units and had been
purchased by one S Kumar alias Vijayakumar by obtaining several loans,
including housing and personal, from the Syndicate Bank here using
forged documents in the names of his friends and relatives.
The properties are located at Thiruvotiyur, Kolathur, Vyasarpadi and
New Washermenpet.
S Kumar of Thiruvotiyur was chargesheeted by CBI and others along with
bank officials of Syndicate Bank Housing Finance Branch in Mylapore on
May 2013 under different provisions of Indian Penal Code and
Prevention of Corruption Act.
He was charged with entering into criminal conspiracy in pursuance
which housing loans and other loans were sanctioned fraudulently worth
Rs 6 crore by bank officials in his favour on the basis of forged and
fabricated documents furnished by him.
The case was taken up by the ED under the Prevention of Money
Laundering Act. The investigation revealed that Kumar had obtained
several loans including housing and personal under forged documents in
the names of his friends and relatives. Kumar had been getting rental
and lease income from them.He did not, however, repay the loans.
“Further investigations are on," the release added
The Enforcement Directorate attached eight immovable properties in the
city worth Rs 12 crore after anti-corruption branch of Central Bureau
of Investigation unearthed a housing loan scam.
The properties consisted of 80 residential units and had been
purchased by one S Kumar alias Vijayakumar by obtaining several loans,
including housing and personal, from the Syndicate Bank here using
forged documents in the names of his friends and relatives.
The properties are located at Thiruvotiyur, Kolathur, Vyasarpadi and
New Washermenpet.
S Kumar of Thiruvotiyur was chargesheeted by CBI and others along with
bank officials of Syndicate Bank Housing Finance Branch in Mylapore on
May 2013 under different provisions of Indian Penal Code and
Prevention of Corruption Act.
He was charged with entering into criminal conspiracy in pursuance
which housing loans and other loans were sanctioned fraudulently worth
Rs 6 crore by bank officials in his favour on the basis of forged and
fabricated documents furnished by him.
The case was taken up by the ED under the Prevention of Money
Laundering Act. The investigation revealed that Kumar had obtained
several loans including housing and personal under forged documents in
the names of his friends and relatives. Kumar had been getting rental
and lease income from them.He did not, however, repay the loans.
“Further investigations are on," the release added
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