In a swift operation, Balrampur police arrested Kulbhushan Asthana, a former branch manager of a national bank, and two of his accomplices for allegedly misappropriating Rs9.5 lakh from a business loan transaction. The arrests were made within 24 hours of the FIR being registered.
The accused, including Kulbhushan Asthana, Maroof, and Abdul Gani, were involved in a fraudulent scheme targeting a poor and unemployed individual, Vivek Kumar, who sought a loan to start a business.
Maroof, a local resident, introduced Vivek to Asthana, claiming to have connections at the bank. Maroof demanded ₹60,000 for processing the paperwork and promised quick approval of the loan. Believing the fraudulent offer, Vivek handed over the money.
Later, a loan of Rs9.5 lakh was sanctioned in the name of BK Garments, but Vivek was never informed. Instead of the loan being transferred to the rightful applicant, the entire amount was disbursed in two installments to Abdul Gani. From there, the funds were transferred into Maroof’s account, completing the fraudulent transaction.
The police have arrested all three accused, and investigations are underway to trace any further financial irregularities connected to the scam. The case highlights the vulnerability of individuals seeking financial assistance, especially when dealing with fraudulent intermediaries.
