Bangalore: Central Crime Branch (CCB) has busted a bank loan racket run by a 51-year-old woman, who cheated several nationalised banks of over Rs 1 crore in connivance with bank officials.
Assistant Commissioner of Police B N Nyamegowda said, "R Uma, a resident of Yelchenahalli on Kanakpura Road used to prepare fake property documents using seals and signatures of Bangalore Development Authority officials and submit the same to banks to avail loans."
She also managed to get loans sanctioned within a fortnight, and that too without any verification. Once the loan was sanctioned, she would pocket the money and vanish. Based on a tip-off, a team swooped down and nabbed Uma and four of her associates and seized fake property papers from their possession.
Uma later confessed that she used to prepare the documents by forging signatures and seals of authorities and managed to get loans sanctioned by paying bank officials a commission based on the amount to be released.
A detailed verification by CCB officials revealed that Uma had already availed a loan of over a crore from four different banks in the city.
"She was preparing another set of documents with plans to avail a loan using the similar modus operandi. We suspect the involvement of bank officials in the racket and will summon them for questioning," Nyamegowda said.
Further questioning revealed that Uma was operating for the past five years and several cases of cheating have been registered against her at various police stations. She has also been on the CID's radar for some time.