TIRUPUR:
Three people, who posed as owners of an authorised franchise for a four-wheeler manufacturer and cheated a nationalised bank to the tune of Rs 2 crore,
have been arrested.
The accused were identified as B Prakash of Angeripalayam, N Thangadurai of Mettupalayam in Tirupur and K Parthiban of Iduvampalayam.
Prakash and his friends opened bank accounts in 15 Velampalayam branch of the
Indian Overseas Bank and Tirupur branch of the
Corporation Bank, as owners of a Coimbatore-based authorised dealer of
Mahindra and Mahindra, police sources said. “They submitted bogus price quotation for nine vehicles, as given by the dealer, who has a showroom on the Avinashi Road in
Thirumuruganpoondi to the State bank of India, Tirupur main branch. The bank sanctioned Rs 1.60 crore loan between April 2016 and July 2017,” a police officer said.
“In order to fool the PSU bank, the accused first submitted original price quotation from the vehicle dealer and obtained another loan of Rs 43 lakh. But, they had purchased other vehicles, which were cheaper than the vehicles mentioned in the quotation,” the officer added. TNN
