Cops suspect involvement of bank officials and notaries – The New Indian Express


Through Express news service

KOCHI: Police investigating multi-crore loan scam by Tripunithura-based couple suspect the involvement of notaries, national bank officials and document writers in the fraud. Officials said they also launched a parallel investigation to find out where couple Reji Paulose and Ajitha Reji parked the money, believed to be around 50 crore, which they collected by taking out loans after they pledged the properties of other people. While Reji was arrested, Ajitha ran away.

“We widened the investigation after learning that Reji had received support from others to commit the crime,” said an officer. A preliminary investigation launched following complaints found that Reji and Ajitha pledged other people’s properties in banks using forged documents. The families of the victims now face the threat of banks seizing their assets. The couple used to pledge home loans to people with low CIBIL scores.

“Reji received help from document writers, notaries and some bank officials. An organized racket is behind the scam. More people are involved, ”said an officer. Meanwhile, the complainants decided to contact the Directorate of Enforcement (ED) and the Central Bureau of Investigation (CBI) for a detailed investigation.

“Several bank officials are involved in the scam. We want a national agency to review it. The defendants invested the fund in other companies, ”said Manuel Jacob, a native of Palluruthy, one of the plaintiffs.

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