Bank manager held for raising crores in loans on fake IDs

The manager of an urban cooperative was today arrested here for allegedly raising loan money running into crores to dummy customers, police said.

The accused, Karnaram Kataria, used to present fake identity of the bogus bank customers, said officials of Kotwali police of Sikar district.

"We have arrested Kataria for committing fraud and cheating," Station House Officer (SHO), Kotwali, Madanlal Kadwasra told PTI.

He said post demontisation, the Income Tax department had raided the bank and initiated its probe.

During investigation, it was found that Kataria was involved in the fraud, the SHO said.