Bank manager, 2 others held for fraud

A manager of a nationalised bank and two of his associates have been arrested for allegedly running a racket which sanctioned vehicle loans on fake documents, police said today.
According to the police, Rama Chandra Dash (56), manager of UCO bank branch in East Delhi's Laxmi Nagar area, used to sanction loans in collusion with his associates Subodh (30) and Sunny Rakhrai (29). All three have been arrested by the Crime Branch of Delhi police.
"Subodh, who is the mastermind behind this racket, was apprehended from Krishna Nagar. A large number of sanctioned loan cases were detected and lots of forged documents and vehicles arranged through loan on these fake documents were recovered," Additional Commissioner of Police (Crime) Ravindra Yadav said.

"Subodh would contact people whose loans had been rejected by the bank and would get them approved illegally using fake income tax return documents," he said.