The Punjab state crime police on Saturday booked five people, including a former bank branch manager and two finance company employees, for allegedly using stolen identity documents, forged records and photographs to secure loans in other people’s names.
The inquiry also found that an account was opened in Mandeep’s name at Punjab & Sind Bank’s Ajitwal branch. The inquiry also examined the role of former Punjab & Sind Bank branch manager Piyush Walia, UpMoney employee Tarwinder Singh and former Shubh Lakshmi Finance employee Sandeep Singh. In another incident, the accused allegedly used Harmanjit’s photograph on Mandeep Kaur’s identity documents and obtained a ₹ 40,000 loan in her name. The case was registered under Sections 406, 419, 420, 465, 467, 468, 471 and 120-B of the Indian Penal Code (IPC).
Police said they did not follow verification procedures while processing the loan applications and opening bank accounts.
