Ex-bank Manager Booked For Duping Ubi Of Over 5cr | Navi Mumbai News

Navi Mumbai: An internal audit into loan defaults carried out five years after disbursement by Union Bank of India’s (UBI) Jaystambh branch in Ratnagiri, has brought to light a scam of Rs 5.13 crore, reports Umesh K Parida. An FIR has been lodged naming 23 accused, including the then branch manager S Prashant, two middlemen and 20 borrowers who collectively defrauded the bank through release of farm loans. Prashant, a resident of Davanagere in Karnataka, and 22 others, have been accused of criminal breach of trust, cheating and forgery, among others.
According to the complaint registered by the local branch of the Union Bank of India with the Ratnagiri city police, 20 applicants were disbursed farm loans in 2015-16.
The borrowers had submitted their 7/12 land extracts for obtaining loans. These loans had undergone an audit.

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