Pune: Vehicle Loan Advisor of State Bank of India Accused of Defrauding Bank of Rs 47.65 Crore

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Pune, 16th February 2023: A vehicle loan advisor of the State Bank of India (SBI) has been accused of defrauding the bank of Rs 47.65 crore.

Aditya Nandkumar Sethia, along with his accomplices, allegedly defrauded the bank during the period of 2017 to 2019. The bank discovered the fraud during an audit of 46 suspicious auto loan cases sanctioned by the bank.

The accused had pretended that fake documents were genuine and had sanctioned huge auto loans for expensive cars. In some cases, the amount was credited to other accounts before being cheated from the bank. A case has been registered against Sethia and two others in this regard.

The Shivajinagar police station has received a complaint from the bank, and the investigation is being conducted by Assistant Police Inspector Vairagkar of the Economic Offences Wing (EOW). The accused is suspected to have cheated other banks as well, and an investigation is underway. The incident has raised concerns about the security of the banking system, and measures are being taken to prevent such frauds in the future.


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