A massive loan fraud involving forged job documents has been detected in Amethi, where perpetrators secured ₹6.40 crore in loans from SBI branches. An FIR has been lodged against multiple individuals following a detailed bank inquiry.
- A massive fraud involving ₹6.40 crore in SBI loans has surfaced in Amethi.
- 64 accounts were identified with significant irregularities.
- Forged appointment letters, salary slips, and Form 16 were used to secure loans.
- An FIR has been registered at Musafirkhana Kotwali against several individuals.
A major financial scandal has rocked the banking sector in Amethi, Uttar Pradesh, as a suspected loan fraud involving forged employment papers has come to light. It is estimated that approximately ₹6.40 crore was fraudulently obtained through 'Express Credit Loans' from multiple branches of the State Bank of India (SBI). The discovery came after a bank-level inquiry flagged suspicious activities in 64 separate accounts.
Following a formal complaint by SBI Chief Manager Rahul Singh, an FIR has been registered at the Musafirkhana Kotwali. The investigation reveals that borrowers misrepresented their employment status by submitting counterfeit appointment letters, salary slips, and Form 16 documents to establish income eligibility. During subsequent verification processes, these documents were found to be inconsistent with the official records of the institutions they claimed to represent.
The Anatomy of the Fraud
According to bank officials, the loans were sanctioned based on the perceived authenticity of the submitted paperwork. While some borrowers initially made payments, a significant number of these accounts eventually slipped into Non-Performing Assets (NPA) status. This default triggered a deep-dive audit into the original loan files, unmasking a systematic pattern of deception across 64 identified accounts.
The probe has also cast a shadow over loan accounts linked to individuals associated with institutions such as Rajiv Gandhi Polytechnic, Musafirkhana, and Gramodyog Seva Sansthan. Of particular concern are 11 accounts at the SBI Amethi branch, where loans totaling ₹1.36 crore were sanctioned, with approximately ₹94.07 lakh still outstanding.
The reliance on physical documentation without real-time digital cross-verification remains a critical vulnerability in the retail lending sector.
Why This Matters
BozokMedia analysis shows that this incident highlights a systemic gap in the verification of income-related documents during the credit appraisal process. As banking services move toward rapid digital disbursement, the ability of sophisticated fraudsters to replicate official employment documents poses a significant threat to institutional stability. This case serves as a catalyst for banks to implement more rigorous, multi-layered verification protocols.
The FIR names a long list of suspects, including Amit Dwivedi, Bhawani Prasad Dwivedi, and even Principal Devendra Prasad Shukla, among others. The Musafirkhana police, led by in-charge Vivek Singh, are currently tracing the fund trails to determine the ultimate destination of the embezzled money and whether the fraud extends to other branches or institutions.
Frequently Asked Questions
1. How did the fraudsters deceive the bank?
They submitted forged appointment letters, salary slips, and Form 16 documents to falsely prove their income.
2. What is the total amount involved in this scam?
The estimated total irregularity across 64 accounts is approximately ₹6.40 crore.
