Over 1,400 Keralites Allegedly Defraud Kuwaiti Bank of Rs 700 Crore
By : DC Web Desk
Update: 2024-12-09 05:30 GMT
Indian nationals majorly from Kerala have allegedly defrauded a Kuwaiti bank of nearly Rs 700 crore and investigation has been launched against them in Kerala.
According to a report, over 1,400 Indian nationals swindled around Rs 700 crore, with majority of them hailing from Kerala.
The individuals who took loans, stopped repaying after going on leave, with many having migrated to countries like Canada, Australia and other European nations, claimed the Bank.
At first, they took small loans, in order to gain bank’s trust they repaid them and later obtained large loans before fleeing.
The Deputy General Manager of Gulf Bank visited Kerala and lodged a complaint with Kerala ADGP. Following the complaint, 10 cases have been registered.