Ernakulam: A probe has been launched against 1,425 Keralites including 700 nurses who fled to Kerala and foreign countries for allegedly defrauding the Gulf Bank in Kuwait of approximately ₹700 crore.
As many as 10 cases were registered on November 5 in this regard in the Kottayam and Ernakulam districts. The investigation will be initiated by Southern Region Inspector General (IG), S Shyamsunder.
The loans varied between ₹50 lakh to ₹2 crore. The bank claims that the loan fraud was carried out by individuals who initially borrowed small amounts, repaid them regularly, and subsequently obtained larger loans due to a boosted credit score. The bank cited Section 188 of the CrPC, which stipulates that if an 'Indian citizen commits a crime abroad, they should face the same legal action as if they were in India'.
However, when there were no repayments, Kuwaiti bank authorities launched an investigation, which revealed that many defaulters had returned to Kerala and foreign countries such as the UK, and Canada.
Authorities suspect that more Keralites may have participated in the fraud after learning of the scheme from the initial defaulters. There is also speculation about the possibility of a conspiracy behind the large-scale fraud.
Similar loan scams involving Keralites have reportedly affected banks in the United Arab Emirates, Saudi Arabia, Qatar, and Oman in addition to Kuwait over the past five to six years. As per sources, several of the accused allegedly relocated to Europe as well as nations including the US, Canada, Australia, and New Zealand after returning to Kerala
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