7 arrested for availing of loans using forgery

The Central Crime Branch of Greater Chennai police on Friday arrested seven persons, including two bank employees, who lured prospective loan applicants by offering loans without any document proof and arranged loans from a leading private bank by forging documents like salary certificates, bank statements and PAN cards. 

The kingpins of the racket are all professional degree holders and are employees of leading private companies. Based on a complaint filed by the zonal manager of Axis Bank, Kodambakkam, alleging that two employees of his loan outsourcing agency along with two others had used forged documents to avail loans and had duped the bank for Rs 43 lakh. 

Following this the CCB registered a case and arrested Subash (34), Karthik (27), Vijay Karan (25), Melvin Raja (29), Sundar Mohan (23), Gnanasambandam (33) and Prakash (32). Police have also seized two computers that were used to forge salary slips, bank statements and PAN cards. 

Police said Subash and Vijayakiran, professional degree holders and employees of leading private companies, masterminded this crime. They first gave advertisements claiming to provide bank loans with no document proof. 

They then tied up with Karthik and Melvin Raja, the employees of Axis Sales Limited to get the loans using forged documents. They forged salary slips, bank statements and PAN cards for applicants who approached them after seeing the ad.