A shocking fake housing loan scam busted by CBI today. Its case of loan given by taking bribes. CBI has raided in 5 cities i.e. Delhi, Mumbai, Jaipur, Jalandhar and Chennai. 8 senior banking officers from different banks are arrested by CBI.
The arrested people are:
Shri Ramchandran Nair, Chief Executive Officer, LIC Housing Finance Ltd., Mumbai
Shri Naresh K Chopta, Secretary (Investment), LIC, Mumbai
Shri R.N.Tayal, General Manager, Bank of India, Mumbai
Shri Maninder Singh Johar, Director (Chartered Accountant) in Central Bank of India, New Delhi
Shri Venkoba Gujjal, DGM, Punjab National Bank, New Delhi.
Shri Rajesh Sharma, Chairman and Managing Director of M/s. Money Matters (India) Pvt. Ltd., Mumbai
Shri Suresh Gattani of M/s. Money Matters Group
Shri Sanjay Sharma of M/s. Money Matters Group
There are 5 cases filled and charged in this scam. All off the arrested persons have sent to CBI remand till 29th November.
In a statement CBI said that “it would be too early to comment on the money involved in the case.” But we can say that it can be go over 1000 crore rupees. There is no case filed against any individual home loan. all the cases filed for providing illegal loans by taking bribes.
As a result stocks of all related companies and banks is now falling down and this scam could result a huge breakdown in the market.
Main accused LIC Housing Finance has paid about 4900 crore rupees (11%) to developers and some of this money is involved in this scam. LIC Housing Finance’s current asset is about 38000 crore rupees.