Enforcement Directorate officials have attached immovable properties worth Rs 3 crore of three persons for cheating a private sector bank by not paying the Rs 28 crore loan they availed fraudulently.
Acting on a complaint from HSBC Bank, ED officials filed an FIR against G R Mohan of G R Enterprises, Joseph Premkumar and D Suresh Rao for entering into a criminal conspiracy and cheating the bank.
“The trio cheated the bank by availing letter of credit facilities fraudulently and non-repayment of loan to the tune of Rs 28 crore”, Enforcement Directorate said in a release here today.
Investigations revealed that part of proceeds of the crime were utilised for purchase of two residential properties in Chennai valued over Rs 3 crore, the release said.
The properties were attached under the Prevention of Money Laundering Act-2002, it said.