n a significant development, the Latasil Police have apprehended seven individuals connected to the recently uncovered Indian Railway Loan Scam in Guwahati. The ongoing investigation has revealed a major racket allegedly responsible for embezzling an astounding Rs10 crore.
This elaborate scheme involved creating counterfeit bank accounts using the names of railway employees at institutions such as the State Bank of India (SBI) and Punjab National Bank (PNB). Preliminary findings indicate potential complicity from high-ranking officials within the Northeast Frontier Railway (NFR).
The scam operated systematically, transforming legitimate salary accounts of railway personnel into loan accounts. By altering account details within the railway system, the perpetrators siphoned off substantial amounts under the pretense of loans.
To execute their deceit, the fraudsters forged various stamps and documents supposedly belonging to railway employees, implicating data entry operators and intermediaries within the railway department and brokerage networks.
Among those arrested is Phanindra Kumar, an official from NFR’s accounts department in Maligaon, Guwahati. Other detainees include Ramzan Ali, Manoj Basfor, Ajit Basfor, and Biraj Das. Police have also seized around 200 counterfeit loan forms during the operation.
In a further crackdown, two additional suspects were arrested in Rangiya, believed to have been involved in the creation of the forged documents and stamps.
As the investigation continues, the city police are committed to dismantling the intricate network behind this audacious fraud, seeking justice for the victims of the railway loan scam.