According to Deccan Herald report , the Kamakshipalya police in Bangalore have arrested five persons for duping several co-operative banks after availing loans worth Rs 2.5 crore.
According to the police, all the accused are from the city and they used to prepare fake seals and letter heads of BBMP, BDA, Revenue department, Health department etc. They also used to prepare several duplicate documents like land deed, land registration papers, sale deed and many other documents.
With these fake documents, they used to approach co-operative banks and avail loans. Once they get the loan, they used to go underground without paying the installments. Using the same modus operandi, they had cheated around 14 co-operative banks.
The printing press and the duplicate documents have been seized. They had availed loans from 14 cooperative banks including Hanumanth Nagar Co-operative Bank, Anand Co-operative Bank, Apex Co-operative Bank, Malleswaram Co-operative Bank.
The police also suspect the involvement of some employees of co-operative banks and other government departments in the racket.