Nagpur: In a distressing incident, over 150 farmers in three tehsils of Nagpur district, Maharashtra, have allegedly fallen victim to a loan fraud amounting to Rs 113 crore, as confirmed by a police official on Thursday.
The principal perpetrator behind this ordeal is the owner of a rice mill in Mauda, who enticed 151 farmers by offering financial assistance following a wet drought in the region back in 2017, according to the official.
Gold Rate
Wednesday 15 Jan. 2025
The modus operandi involved the accused and his associates facilitating the opening of bank accounts in the names of these 151 farmers hailing from Mauda, Parseoni, and Ramtek tehsils. These accounts were established after the individuals were induced to provide their PAN and Aadhaar details.
Loans ranging from Rs 45 lakh to Rs 50 lakh were procured in the names of these farmers from a bank in Kingsway, Sadar. Subsequently, these funds were illicitly funneled into the accounts of 12 companies owned by the prime suspect, Ramannnarao Bolla, the official disclosed.
The fraud was brought to light when numerous unsuspecting farmers began receiving recovery notices from the bank, despite having no knowledge of these loans. In response, they confronted the principal accused, Bolla.
Although Bolla initially assured them of repayment, he failed to fulfill his promise. In light of this, the affected farmers sought assistance from the police. Notably, six of these farmers didn’t possess any agricultural land.
Consequently, a case has been registered against Bolla and 17 others, including bank personnel and individuals associated with the 12 companies owned by the primary suspect, under various sections of the Indian Penal Code, Information Technology Act, and Maharashtra Protection of Interest of Depositors Act.
