Working as a manager in Syndicate bank in Bhojpur, Lalit Kumar Singhal filled forms on his own, became the guarantor and got the loans passed. He then withdrew the cash from the various accounts and used the money in petrol pumps, tractor showrooms, and buying plots, according to a report in Amarujala.
Sources told Amarujala that there were several farmers in whose names he got a total of Rs 50,000 loan passed.
The crime came to light when these people started receiving notices from the bank.
One of the victim, Mahesh said he had never taken a loan from the bank. When he got the notice he reached crime branch where several others had filed similar complaints.