The remand report filed by the Crime Branch (CB) at the Irinjalakuda Magistrate Court on Tuesday alleged that T.R. Sunil Kumar, key accused and the former secretary of the Karuvannur Service Cooperative Bank, misused his position.
A loan fraud of ₹100 crore was committed at the bank by creating fake documents and manipulating software, the report said. The court remanded Sunil Kumar in judicial custody for 14 days.
Kiran, one of the accused in the case, who was not a member of the bank, was given a loan of ₹23 crore. This was possible with the intervention of Sunil Kumar. In all, 279 loans worth more than ₹50 lakh each were sanctioned by the bank.
Documents furnished for these loans were not complete. The overpricing of the land submitted as collateral security was also found. Sunil Kumar sanctioned many loans without the signature of the president of the Director Board, the report noted.
The Thrissur District Sessions Court on Tuesday rejected the anticipatory bail plea of three other accused in the case – Biju Kareem, C.K. Jilse and Reji Anil.
The Crime Branch team had on Monday arrested Sunil Kumar, who was absconding after a case was registered against six persons, in the ₹100-crore loan fraud.
It is suspected that the other accused had escaped from the State. The Crime Branch has issued a look out notice for them.
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