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Technopark employee accused of ₹2-crore loan scam

Loan Scams

Technopark employee accused of ₹2-crore loan scam


A Technopark employee with a relatively high salary has been accused of siphoning off around ₹2 crore in total from at least 20 of his colleagues and workplace acquaintances through an elaborate loan scam. Most of the victims are now faced with the prospect of repaying loan EMIs that are even double their monthly salaries as the loans were availed of from various private banks using their documents.

They have filed complaints with the Chief Minister and the Banking Ombudsman against the person identified as Nishanth (35), a resident of Chempazhanthy, originally hailing from Vallakadavu, who was working as a technical lead in a software firm.

The alleged scam came to light when he stopped responding to his colleagues some months ago and they began enquiring about him. Joseph (name changed), one of the victims, told The Hindu that Nishanth, who was his superior, had requested the former for help with a loan in February last year.

“He told me that he had availed himself of a loan of ₹15 lakh from private lenders for his wife’s mother’s operation and that goons sent by them were threatening his family. He asked me whether I can take a loan and help him. He said the amount would be repaid in four months after the sale of his property at Karyavattom. He told me that a person from Punjab National Bank would call me for documents. Next day, a person called Sudheesh called me and I passed on my PAN and Aadhar details and salary slip. Since I knew Nishanth for five years…

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