Bank manager, 3 aides land in STF net for loan fraud
Police said the gang forged IDs, created fictitious firms, and misused assistant managers’ credentials to approve loans. They lured people in need of credit, collected their documents, and obtained signatures under false pretences. Loans were then sanctioned in the victims’ names, but the funds diverted to shell companies controlled by the gang. The victims later received EMI notices despite never getting the money.
The Uttar Pradesh Special Task Force (STF) on Saturday raided a plush high-rise society and arrested a Union Bank of India branch manager along with three accomplices for allegedly running a large-scale cyber fraud by sanctioning fake Mudra and auto loans using forged documents and unauthorised access to bank systems, officials said.
Gaurav Singh, 40, branch manager of Union Bank’s Jankipuram branch, was allegedly the mastermind. A BTech and MBA graduate, Singh is a resident of Vikas Nagar in Lucknow and hails from Khersa village in Kanpur, according to an STF release. The others arrested were Naved Hasan, 42, of Jankipuram Garden (originally from Hata Mirza Ali Khan, Thakurganj); Akhilesh Tiwari, 37, of Rajajipuram; and Indrajeet Singh, 30, of Balaganj (originally from Unnao).
From their possession, the STF recovered five mobile phones, a desktop, a printer, fake Aadhaar and PAN cards, driving licences, loan papers, two cheque books, a bill voucher, four cars and ₹750 in cash.
Police said the gang forged IDs, created fictitious firms, and misused assistant managers’ credentials to approve loans. They lured people in need of credit, collected their documents, and obtained signatures under false pretences. Loans were then sanctioned in the victims’ names, but the funds diverted to shell companies controlled by the gang. The victims later received EMI notices despite never getting the money.
Investigations revealed that loans worth nearly ₹25 lakh were sanctioned in the name of complainant Raj Bahadur Gurung, who learnt of the fraud only after receiving repayment reminders.
During interrogation, Hasan admitted that since 2015, he had been involved in similar frauds, floating fake transport firms and securing loans with forged documents and bank staff collusion. He claimed the gang financed around 20 vehicles and secured multiple Mudra loans.
Singh confessed to abusing his position by granting loans on forged papers, manipulating subordinate officers’ login credentials and diverting funds to gang-controlled accounts. Tiwari and Indrajeet corroborated the confession, admitting they procured customers, forged signatures, and controlled OTPs and communications, the STF said.
Officials added that the gang had defrauded banks of crores over the years and that more members were under the scanner. The seized electronic devices will undergo forensic examination, and linked accounts and e-wallets are being scrutinised.
