UNION BANK OF INDIA MANAGER AND 12 OTHERS SENTENCED IN LOAN DISBURSEMENT FRAUD IN KERALA

Press Release
New Delhi, 18.12.2017

The Special Judge, CBI Cases, Ernakulam (Kerala) has sentenced Shri K. K. Viswambharan, the then Senior Manager, Union Bank of India, Cherpu Branch, Trichur (Kerala) to undergo three years Simple Imprisonment with fine of Rs. Two lakh  and 12 private persons, namely Shri K.N. Ravindran; Smt. Hemalatha; Shri T.D. Kishore Kumar;  Shri Santhosh Jose; Smt. A. Remani; Smt. Gowri; Shri V.S. Suresh Babu; Smt. Sajitha; Smt Mini Santhosh; Shri C.C. Joy; Shri K.T. Thomas and Shri G. Jyothi to undergo two years Simple Imprisonment with fine of Rs. One lakh each.

The investigation revealed that Shri K.K. Viswambaran, while working as Senior Manager, Union Bank of India, Cherpu Branch, Trichur District, Kerala during the period 2004-2005 entered into criminal conspiracy with other private persons and cheated the Union Bank of India in the matter of sanction/ disbursal of housing loans.  The accused sanctioned & disbursed housing loan amounts to loanees without making proper pre-sanction verifications and accepted the forged Income Tax Returns. A loss to the tune of Rs. 49.5 lakh was caused to the Union Bank of India. The other accused canvassed the persons for loans irrespective of their ineligibility, capacity to repay the same, prepared forged Income Tax Returns in the name of the loanees, affixed the forged stamp impression and date of filing in the forged Income Tax Returns by using computer scanning process.

After investigation, CBI filed a chargesheet against the accused in the Designated Court. One accused expired during trial and charges against him were abated.

The Trial Court convicted the said accused persons and acquitted one person.





 


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