CHENNAI: Four persons of the same family – two siblings and their wives were arrested by the Central Crime Branch (CCB) of the city police for allegedly defrauding a bank by obtaining Rs 7 crore loan using forged property documents. City Police initiated investigations based on a complaint from the Manager of City Union Bank. The accused runs a jewellery shop- Kamadhenu at Avadi, police said. The family got a business loan of Rs 7 crore from the bank by submitting forged property documents and failed to repay the loan amount. Investigations by the Bank Fraud Investigation Wing (BFIW) revealed that they took a loan by pledging a 3,474 sq.ft of vacant land located at Vilinjambakkam in…
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Source: https://www.dtnext.in/amp/news/city/four-of-a-family-held-for-loan-fraud-775027