News Karnataka
Friday, March 29 2024
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Udupi

Madhwaraj refutes allegations of Rs 193 Crore bank fraud

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Udupi: Karnataka State Minister for Fisheries, Sports and Youth Affairs Pramod Madhwaraj on March 14 clarified that he was not involved in any bank fraud.

He was reacting to reports about images being circulated on the social media alleging that he had duped Syndicate Bank of Rs 193 crore. Reasserting his innocence, Madhwaraj said that, he had not committed any such crime.

The minister said that he would not have remained happy if he had committed Rs 193 crore fraud. “I followed all the rules and received loan in proportion to the value of the pledged property,” he added.

The minister also said that the Union government owns the Syndicate Bank and he was ready for any investigation on the matter.

The photos shared on social media alleged that Madhwaraj had borrowed Rs 193 Crore from Syndicate Bank, Malpe Branch by pledging a property worth only Rs 1.1crore. The photos of the complaint letter to the Finance ministry requested it to probe the involvement of bank staff in the alleged fraud and to register complaint under various sections of Indian Penal Code (IPC).

The minister also requested the people not to believe the baseless allegations. Anyone can enquire about the matter at Malpe branch of Syndicate Bank, he added.

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