Kolkata Police probe 12 Central govt employees in Rs 1 crore loan fraud, railway staffer arrested

Kolkata, May 16 (IANS) The Kolkata Police have launched an investigation against 12 central government employees based in the city for allegedly securing bank loans using forged documents and subsequently defaulting on repayments.

One of the accused, Palas Mukhopadhyay, a staff member of Indian Railways, has been arrested. He is said to have taken the highest loan among the group -- Rs 11 lakh.

According to police sources, the total loan amount fraudulently secured by the accused stands at approximately Rs 1 crore. While the amount may not be exceptionally high, the uniformity in the method of fraud has raised concerns of a coordinated racket.

All the accused are posted in various central government departments in Kolkata, most of them with the Indian Railways. Investigations reveal they approached a specific financial institution for personal loans through its marketing agents. After paying a few initial EMIs, they stopped repayments.

The city police insider said that this particular case is different from individual bank loan default cases, as there are too many common factors in the nature of the forgery.

A background check by the lender revealed that all applications had been routed through a select group of agents and were supported by forged documents, particularly relating to income and financial status. Following this discovery, the institution lodged a complaint at the Park Street police station, prompting the current probe.

Investigators believe the case stands out from routine loan defaults due to the recurring patterns -- all accused being central government employees and using similar forged documentation.

Given that such employees are typically considered low-risk by financial institutions, especially for unsecured loans, the nature of the fraud has led police to suspect the involvement of an organised racket.

--IANS

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