Surat bank officials accused for ₹4 crore fraud
A massive fraud has been uncovered at the Surat branch of Mehsana Urban Cooperative Bank, where ₹4 crore was fraudulently withdrawn from the account of Vijay Navdiya, a loan applicant, using unsigned cheques. Despite the loan of ₹4.90 crore being approved, the funds were siphoned off from Navdiya’s account before the money could be disbursed to him.
Navdiya’s ordeal began when he received a message demanding interest payments on a loan that had not even been processed. To his shock, he discovered his account had been frozen. Upon further inquiring, Navdiya found that unsigned cheques had been used to withdraw the funds.
The funds were reportedly withdrawn by someone named Nimesh Patel, who was previously associated with the bank.
From the sanctioned loan of ₹4.90 crore on May 15, 2024, ₹2.30 crore was withdrawn on May 13, ₹2 crore on May 14, and ₹58 lakh on May 15, totaling ₹4.88 crore.
Remarkably, the loan sanction letter was dated May 15, yet ₹2.30 crore was withdrawn on May 13, well before the approval date.
On August 13, 90 days after the account was listed as Non-Performing Asset (NPA), ₹5 crore was deposited into Navdiya’s account to prevent the account from being declared an NPA, funds were deposited just in time, coinciding with the Reserve Bank’s intervention and audit requirements.
Following the same, Navdiya has filed a police complaint against Mehsana Urban Cooperative Bank’s Chairman K K Patel, Vice Chairman G K Patel, and all directors at the Surat Varachha police station, but is yet to receive a response. Consequently, the matter has now been escalated to the government.
Also read :
Man poses as bank manager, commits gold loan fraud worth ₹2.5 cr
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