Crime Branch likely to probe ₹29.62-cr. NRI loan scam
Police in Kochi are seeking to transfer a ₹29.62 crore NRI loan fraud case to the Crime Branch for a more thorough investigation. The case involves a financial service firm and its directors who allegedly forged international documents to secure fraudulent home loans.
Why it matters
This highlights significant vulnerabilities in banking security and the potential for large-scale financial fraud involving international documentation.
The police probe into an NRI loan scam in which a major nationalised bank was allegedly duped of ₹29.62 crore is likely to be handed over to the Crime Branch.
The Ernakulam Central police, which registered a case based on a complaint from a zonal manager of Indian Bank, has submitted a preliminary report to the District Police Chief (Kochi City), citing the need for a detailed investigation by the Crime Branch into the multi-crore cheating case.
“We have requested a Crime Branch probe as the alleged cheating pertains to over ₹5 crore. Now, the District Police Chief has to forward the request to the State Police Chief, and a decision will be made at the headquarters,” a senior officer said.
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