Assam: Major Railway Loan Scam Uncovered in Guwahati; Seven Arrested in Rs 10 Crore Fraud

GUWAHATI: In a significant breakthrough Latasil Police have apprehended seven individuals in connection with the recent unraveling of major railway loan scam in Guwahati. The investigation was spearheaded by city police. It has unveiled complex racket accused of embezzling an astounding sum of Rs 10 crore.

The intricate scheme involved the creation of counterfeit bank accounts. They were under names of railway employees across prominent banks. These included the State Bank of India (SBI) and Punjab National Bank (PNB). Alarmingly, preliminary findings indicate involvement of high-ranking officials from Northeast Frontier Railway (NFR) in this fraudulent operation.

According to the investigation the scamsters operated by converting legitimate salary accounts. These were of railway personnel into loan accounts They then altered bank account details within the railway system. This was to facilitate embezzlement of funds under the guise of loans. This manipulation enabled perpetrators to siphon off substantial amounts of money undetected.

To further their deception fraudsters forged numerous stamps and documents purportedly belonging to railway employees. This aspect of scheme involved data entry operators and intermediaries within railway department as well as brokerage networks.

Among apprehended individuals is Phanindra Kumar, an official from NFR's accounts department in Maligaon, Guwahati. Others detained include Ramzan Ali. Also Manoj Basfor Ajit Basfor and Biraj Das were detained. The city police seized approximately 200 counterfeit loan forms during operation.

The crackdown intensified on Monday. Two additional suspects from Rangiya were arrested. They are believed to have been involved in creating forged stamps and documents. The network behind this audacious fraud is being dismantled.

The Latasil Police, with their swift and decisive action have underscored commitment to rooting out corruption. As well as ensuring justice. Investigations continue to unfold. The city police determined to bring all those involved to account. Security justice for the victims of this extensive railway loan scam is their focus.

This landmark operation not only highlights vulnerabilities within financial and governmental systems. Furthermore, it showcases relentless efforts of law enforcement to combat sophisticated criminal activities. The unraveling of this scam serves as stark reminder of need for vigilant oversight.

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