Fake Loan Housing, Corporate Scam – CBI arrested LIC CEO and Bank Officials - Scam Amount May Be More than 1000 crore

Fake Loan Housing, Corporate Scam –
CBI arrested LIC CEO and Bank Officials -
Scam Amount May Be More than 1000 crore

The The economic offences wing of the Central Bureau of Investigation has arrested 8
persons regarding fake housing loan scam or racket on graft,corruption ,bribe charges.

List ,Names of the people whom CBI arrested - in Fake Loan Housing, Corporate Scam



1. CEO of LIC Housing Finance Ramachandran Nair

2. Naresh K Chopra, Secretary (Investment), LIC

3. R N Tayal, General Manager of Bank of India (Delhi)

4. Maninder Singh Johar, Director (Chartered Accountant) of Central Bank of India

5. Gujjal and Dy General Manager of Punjab National Bank (Delhi)

6. Rajesh Sharma, CMD of Mumbai-based firm Money Matters Ltd and two of its employees -- Suresh Gattani and Sanjay Sharma-- were among those arrested.

The CBI registered five separate cases and may register more cases as investigation is going on.

What happened in this case -
the bank officials broke the laws while giving loans , accepted bribes or given loans ,sanctioned loans when people were not eligible for that loans.

The CBI said that it had busted a racket wherein "a private financial services company, its CMD and other associates were allegedly bribing senior officials of public sector banks and financial institutions for facilitating large scale corporate loans."

Regarding this scam please do not worry all Banks are safe.
these are crimes done by officials by taking bribes or sanctioning illegal loans.

Reality views by sm -
24 November 2010