A couple cheated Saraswat bank in Banglore by submitting fake papers and withdrawing Rs 60 lakh as loan.
Bank has registered a case and Koramangala police have arrested a couple for allegedly cheating a bank by availing vehicle loan by submitting fake documents.
The accused have been identified as Ashok Kumar and his wife Radha alias Anjana.
According to the police, Saraswatha Cooperative Bank in Koramangala had registered a case against the couple and their relatives Bhadracharya and Vijayalakshmi in this connection.
During the investigation the couple revealed that they had booked highend cars by paying Rs 20 lakh as advance to Jubilant Motors and had obtained a vehicle loan of Rs 60 lakh by submitting those documents to Saraswatha Co Operative Bank.
They had also created a bank account in the name of Jubilant Motors by submitting fake documents and the loan money was credited to that account, the police added.The advance amount of Rs 20 lakh that the accused had paid has been seized and Rs 40 lakh that was in the bank account have been frozen. They have been remanded to judicial custody. The search is on to nab other two accused, the police said.