HOSHIARPUR: The police has arrested Fatehpur village-based
financier, Sukhjinder Pal Singh ‘Sunny,’ who has been linked to the case of cheating where loans worth Rs 7 crore were taken in name of over 200 borrowers from the
Bullowal village branch of the
State Bank of India by pledging substandard gold ornaments.
In its complaint to the police last week, the
SBI had named a jeweller and all 224 borrowers, who claimed they were made to avail of loans from the SBI branch by depositing sub-standard gold as collateral.
The financier was nabbed by the villagers, who claimed he had cheated them, in the district courts complex and was taken to Hoshiarpur
SSP J Elanchezian, who instantly got a case registered on a complaint submitted by some of the borrowers.
“He was spotted when he was moving around with his face partially covered with a handkerchief and the villagers caught hold of him and then took him to Hoshiarpur SSP who then got a case registered. He was then formally arrested,” said RTI Awareness Forum chairman Rajiv Vashisht, who had earlier sent a complaint to the Prime Minster, the Union finance minister and the RBI governor about the scam.
Hoshiarpur DSP (HQ) Jang Bahadur Sharma said Satnam Singh, Baldev Kaur and others had submitted a complaint in which they named Sunny, jeweller Jatinder Kumar of Lord Krishna Jewellers, Bullowal and bank manager Sidharath Bhatti. The case had been registered for cheating and conspiracy under Sections 420 and 120 B of IPC.
A group of borrowers had submitted a complaint to the SSP on March 12, alleging that they had approached Sunny for loans of small amounts, but he took them to the bank for gold loans. They claimed that they were not aware that loans worth lakhs were taken in their names. The villagers told police that the ornaments were also arranged by the financier for collateral.
Representative Image
