Rs.7 Crore Home Loan Fraud in State Bank of India in Chennai

Chennai: Two women have been arrested by the Central Crime Branch (CCB) for their involvement in a bank fraud case of about ₹7 crore. According to a complaint filed on August 12, 2024, by officials of SBI, Egmore, Chennai, some people took a Combo Home Loan of around ₹7 crore using fake documents. They later stopped repaying the loan, causing a loss of ₹7,10,00,725 to the bank. After receiving the complaint, the CCB’s Bank Fraud Investigation Wing registered a case and began investigating.

The investigation found that the accused had created and used fake documents together to take home loans worth ₹7 crore. They then shared the money among themselves. During the investigation, the police arrested two accused, V. Saraswathi (46) of Madhuma Nagar, Perambur, and A. Jemila Begum (49) of P.V. Colony, Vyasarpadi.

They were arrested on Thursday in Perambur. After questioning them, the police produced both women before the Additional Chief Metropolitan Magistrate Court in Egmore, and they were sent to judicial custody. The investigation is still going on, and the police are trying to find the other accused who are on the run.