India, Oct. 2 -- The Enforcement Directorate (ED) has unearthed assets worth over Rs.100 crore, seized Rs.10 lakh in cash and recovered several documents during searches linked to its probe into a Rs.152.9 crore loan fraud that allegedly cheated the then public-sector Corporation Bank (now Union Bank of India) and more than 150 farmers.

According to ED officials, the prime accused, Ramana Bolla and Nutan Singh, allegedly opened 212 loan accounts in the names of unsuspecting farmers after collecting Aadhaar and other documents from them under the pretext of helping them access government compensation for crop losses. Instead, the accounts were allegedly used to fraudulently obtain loans from the bank, which later turned into non-performin...