Two Men Charged in Rs 3.26 Crore Bank Fraud Case

Police have filed charges against Sagar Suresh Sonawane and Rajesh Shette for defrauding a loan agency and a private bank of Rs 3.26 crore. Sonawane, utilizing his position within a loan agency, manipulated loan applications with false information and failed to repay the loan, resulting in significant financial loss.

Police have lodged a case against two individuals accused of defrauding a loan agency and a prominent private sector bank of Rs 3.26 crore, an official revealed on Tuesday. The suspects, identified as Sagar Suresh Sonawane and Rajesh Shette, reportedly orchestrated the fraud between October 2021 and December 2023.

Sonawane, who worked for a loan agency, manipulated the loan application process and, along with Shette and other accomplices, submitted falsified information to obtain the loans. Post disbursement, they failed to repay, causing substantial financial losses to both the loan agency and the bank.

An extensive investigation is underway, aiming to catch all involved and recover the defrauded funds. An FIR has been registered at the Naupada police station on June 30, with charges including criminal breach of trust, cheating, and forgery.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)