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The Central Bureau of Investigation on Saturday arrested three persons, including son of a retired IAS officer, who allegedly duped the State Bank of India by submitting fake documents to obtain a Rs 16- crore loan.
According to sources, the three were arrested in Chennai and produced in a court.
The accused are : Vijay Kumar (son of retired IAS officer K Bhaskar), Chanakya and his friend AVVN Murthy.
Investigation revealed that SBI Global Factors business development manager Kishore Babu had sanctioned the loan.
According to sources, Vijay Kumar established a company, Chanakya Digital PC Technologies Private Limited, and applied for loan.
He and his friends forged and fabricated property documents purported to value Rs 60 crore and obtained a loan of Rs 16 crore by submitting the forged documents.
During the verification of the documents later, SBI officials found that the accused had duped the bank and lodged a complaint with the CBI.
It is also learnt that the accused were involved in other economic offences to the tune Rs 15 crore and at least 15 warrants are pending against them at the Central Crime Station (CCS) and other police stations here.
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