The Museum police arrested a 45-year old man for an alleged loan fraud on Thursday.
The accused was identified as Anil alias Aji of Murukkumpuzha. He and another accused Sreekanth have been accused of defrauding the State Bank of India (SBI) to the tune of ₹1 crore by enabling other people to avail loans from its Vellayambalam branch using forged documents.
Sreekanth, who used to work as a business development officer in SBI Life Insurance, is the prime accused in the case. He was arrested a week ago.
The duo have been accused of forging documents including identification cards that would enable others to avail the loans through fraud. They would in turn charge sums as high as ₹1 lakh as commission for the loans.
Anil, a history-sheeter, is known to have been involved in cases in Attingal, Kazhakuttom and Mangalapuram police stations. Efforts were under way to ascertain whether other banks had fallen prey to the racket.
