Fraudsters swindle crores with forged documents of Kudumbashree members in Kochi

Kochi: Several members of neighbourhood self-help groups of the Kudumbashree were allegedly duped by the local 'mafia' by availing loans from a public sector bank.

Swindlers forged documents and borrowed lakhs of rupees from the Willingdon Island branch of the Union Bank of India, reported Manorama News on Friday. 

The fraud was exposed after bank officials identified the documents as fake and contacted Kudumbashree members. 

Reports said applications for 'linkage loan' were forwarded to the bank in the name of seven Kudumbashree units based in West Kochi. The fraudsters have misused photographs of students and forged documents and seals to avail loan from the bank. 

The fake documents were prepared in the name of Kudumbashree units in wards 20 and 13 of the Kochi Corporation. 

Modus operandi
The 'mafia' allegedly hatched the plot for the crime with the help of two women who are close to Kudumbashree members. The two women, who had acted as agents to induct members to Kudumbashree units, swindled Rs 10 lakh to Rs 20 lakh from the bank loan.

The fraudsters also forged the signatures, seal and letter of councillor and members of the Community Development Society (CDS) and Area Development Society (ADS). 

For claiming the benefits granted to Kudumbashree units, the fraudsters prepared group photos of the members without their knowledge.

Talking to Manorama News, a Kudumbashree member revealed that though Union Bank sanctioned Rs 16 lakh as a linkage loan to their Kudumbashree unit, the agent only handed over Rs 8 lakh to them. 

The women who fell prey to the fraudsters are worried about the huge debt.

Linkage loans are granted to self-help/neighbourhood groups like those of the Kudumbashree. The government has been giving a 10 per cent subsidy to Kudumbashree units which are repaying the loan without failure. The 'mafia' had an eye on this benefit too.