Archive · 28 May 2025
CBI Investigates Rs 7.3 Crore SBI Housing Loan Fraud
Some people are accused of cheating the State Bank of India out of a lot of money.
It's like they took a loan to buy a house, but they didn't follow the rules and gave fake information.
A businessman named Murugan and others, including the builder and bank employees, are in trouble.
The bank thinks these people worked together to steal money.
The police, called the CBI, are now looking into what happened to figure out who did what.
They're checking the evidence, like fake papers and what the people said.
The CBI is checking to see if there were other people involved or not.
CBI booked a borrower, builder, and valuers for defrauding SBI of Rs 7.30 crore.
The fraud involved a Rs 5.5 crore housing term loan.
Accused include A Murugan, Rathanakar Shetty, and SBI bank staffers.
Murugan allegedly submitted forged income credentials.
The SBI RACPC branch in Tambaram is also implicated for procedural failures.
- Who
- A Murugan, Rathanakar Shetty, bank staffers, and others.
- What
- A housing loan fraud where SBI was cheated out of Rs 7.30 crore.
- When
- The loan was granted in 2018; the case was filed recently.
- Where
- Madipakkam, Chennai and KR Puram, Bengaluru.
- Why
- To defraud the State Bank of India by obtaining a housing loan through fraudulent means.
SBI's Perspective
Accused's Perspective
Intent
SBI's Perspective
SBI believes the accused knowingly conspired to defraud the bank.
Accused's Perspective
The accused have not yet given their perspective.
- Total Fraud Amount
- Rs 7.30 crore
- Housing Loan Amount
- Rs 5.5 crore
- Loan Granted Year
- 2018
- Locations
- Madipakkam, Chennai; KR Puram, Bengaluru
- Charges
- Cheating, Criminal Conspiracy, Corruption