By Express News Service

KOCHI: A cheating case allegedly amounting to a whopping Rs 20,000 crore in the UAE, involving more than 150 Malayalees, has surfaced, with the Gulf bank officers landing in the city to produce statements before the police on Thursday.

Express

The Ernakulam Central Police recorded the statements of National Bank of Ras Al-Khaimah (RAKBANK) representatives. Two other Gulf banks — National Bank of Fujairah and Arab Bank — have also filed petitions against Malayalees for duping.

The modus operandi, as per the petitioner, involves taking loans from the Gulf banks and transferring the amount through illegal channels after selling their properties and fleeing the country. The police said a total of 46 cases were pending against expats for cheating the three UAE banks. The petitioner alleged the defaulters are from different parts of Kerala.

‘RAKBANK willing to settle case amicably’

Power of attorney Prince Subrahmanian said: “RAKBANK is willing to settle the case amicably and ready to give a pre-litigation opportunity to the defaulters. Hence the Kerala State Legal Services Authority will conduct an adalat at Kaloor on Friday. The defaulters could settle the liabilities directly with banks via the adalat.”

RAKBANK Senior Manager (remedial department) Prasanth Jain and Senior Relationship Manager Sajan Abdul Majeed handed over the fake documents produced by the fraudsters to obtain the loan to the investigation officer CI A Ananthalal. Crime Branch and Ernakulam Central Police are probing 17 and 12 cases respectively based on the complaints filed by the power of attorney. Ernakulam Central SI Joseph Sajan said investigation is underway in the cases registered as per the complaint.

46cases pending against expats for cheating three UAE banks

RAKBANK willing to settle the case amicably and ready to give a pre-litigation opportunity to the defaulters