Thrissur: More people have come forward with allegations of fraud against Satheesh Kumar, the prime accused in the Karuvannur Co-operative Bank scam.
The latest accusation was made by a Thrissur native Sindhu, whose complaint states that Satheesh stole over Rs 10 lakh from her on the pretext of a loan takeover.
Satheesh forcefully took the loan amount of Rs 11 lakh and seized the documents, Sindhu said in her complaint.
If there is a significant difference between the interest rates offered by lenders, a borrower may transfer her loan to the bank offering the lower rate. This process of transferring a loan from one bank to another is called a 'loan takeover'.
Sindhu had availed a loan of Rs 18 lakh from the Mundur branch of Kerala Bank. When she defaulted on the payments, Satheesh approached her to take over the loan.
According to Sindhu, Satheesh forced her to transfer the loan to the Peringadur branch of Kerala Bank and take a loan for Rs 35 lakh. She alleged that Satheesh took Rs 11 lakh out of that loan amount.
Sindhu said she came to know of the fraud when she reached the bank following the takeover. Currently, Sindhu's liability has mounted to Rs 75 lakh. She also said bank authorities would initiate attachment proceedings on October 4.