<span style="color: #222222;">Enforcement Directorate, ED has attached assets worth over 51 crore rupees belonging to the accused Pappu Singh and his family members in a bank fraud case. The attached properties include house sites, fish tanks and poultry farms. The agency said, the investigation was initiated under the Prevention of Money Laundering Act, on the basis of FIR registered by CBI and Anti Corruption Branch, Visakhapatnam. The FIR was registered against Officials of IDBI Bank and various loan aggregators and others for fraudulently availing Kisan Credit Card, KCC loans from IDBI Bank for fish farming.<br />'' <br />''<br />''The investigation revealed that Pappu Singh had fraudulently availed KCC loans in the names of 87 borrowers who were his family members, employees and persons known to him by giving his properties as collateral securities. The accused misappropriated the loans sanctioned to the borrowers. The total loan amount of over 69 crore rupees sanctioned to the small farmers was illegally aggregated and diverted by the accused of making personal investments and acquiring properties in his name.</span><br />
News On AIR | January 1, 2020 5:24 PM
ED attaches Rs 51 crore worth properties of Pappu Singh in bank fraud case