In one of the biggest loan fraud reported in recent times, two officials of Bank of India (BoI) have been accused of granting loan of Rs 3.5 crore to as many as 114 people without any collateral security. The incident occurred in Jharkhand’s Khunti district.
The CBI team, which carried out searches at the house and offices of the accused, has claimed to have seized several incriminating documents. A case under different Sections of IPC and the Prevention of Corruption Act has been registered against Patras Sanga, manager, and Dev Kant Jha, assistant manager, Bank of India, Karra Branch in Khunti district.
Read more: Bank of India officials in Rs 3.5cr loan scam – India – The Times of India http://timesofindia.indiatimes.com/india/Bank-of-India-officials-in-Rs-35cr-loan-scam/articleshow/6462817.cms#ixzz0yelugLk5