Fake IPS officer who swindled money from banks, arrested in Palakkad
Palakkad: Vipin Karthik, who had swindled crores of money from banks posing as IPS officer, was arrested on Wednesday. Police arrested Vipin from Chittoor here and later handed him over to Guruvayur police.
Police had earlier arrested Vipin’s mother 58-year-old Shyamala who partnered in the crime posing as Public Information Officer, from her house at Bilathikulam in Kozhikode. Vipin had then escaped from police.
The duo had impersonated for a span of one-and-a-half years. They created fake salary certificates and took 12 loans from various banks to buy luxury cars. The total loan amount was around Rs 2 crore.
The fraud came to light after police registered a case and held investigation based on a complaint filed by the Guruvayur branch manager of Indian Overseas Bank. The duo had taken loans amounting to Rs 30 lakh from the bank to buy two luxury cars.
There is another case that the duo swindled 97 sovereigns of gold and Rs 25 lakh from the bank manager Sudha Devi, who is a native of Kollam.