Ex-bank manager held for loan scam in Ghaziabad

A former Punjab National Bank loan manager was arrested by the Ghaziabad Police in connection with a large-scale loan scam. Police said that the accused, Priyadarshini, had allegedly bypassed banking rules to provide loans against wrongly valued assets. More than 39 cases have been filed in the scam estimated to be running into hundreds of crores, police said.

“The accused was arrested from Bisrakh in Greater Noida Tuesday. She is a key link in the scam and was responsible for many irregularities. The accused was in collusion with many stakeholders which resulted in overvalued loans being granted. She was in a managerial position at the Chander Nagar branch. We will be arresting others too,” said Nipun Agarwal, SP (City) Ghaziabad.

Police said that more than 20 cases are being investigated by officers in Ghaziabad while others are under the purview of the Economic Offences Wing (EOW), CBI and some are being monitored by the court.