The manager of an Andhra Bank who recently joined the branch was stunned to find that fish ponds for which the banks had lent Rs 6.45 crore never existed. Bank manager K.V. Chalapathi lodged a complaint with Gudivada One Town police alleging that the documents produced by 10 persons of Rudrapaka in the mandal were forged and duplicates and there were no fishponds in existence.
Following the complaint, police registered cases against 10 persons of Rudrapaka and started an investigation. According to inspector S.L. Ramasomeswara Rao as many as 10 persons submitted forged documents and took loans from the bank in 2010. It is learnt that the bank manager who headed the branch in 2010 till recently had played a key role and sanctioned fake loans to the customers.
He said that there are more such fake documents and unfair loan sanctions have been identified by the bank officials. Mr Chalapathi recently took over as branch manager and lodged a complaint after stumbling on the fraud, he added.