Fraudster held for duping bank, 15 persons of Rs 5 cr

Tribune News Service

Mohali, December 11

The Mohali police claimed to have arrested a miscreant, who has duped a nationalised bank and 15 persons to the tune of Rs 5 crore here.

The accused, identified as Karanveer Singh, a resident of Kharar, here, has already been declared as proclaimed offender (PO) by a local court.

Karanveer is said to have duped UCO Bank, Kharar, to the tune of Rs 3.65 crore in connivance with some staff members in 2013. He had forged documents of various persons after floating some fake loan firms to pass car loans.

“This way, he along with his accomplices had cheated the bank of Rs 3.65 crore,” said the police.

In another case, Karanveer and his accomplices had cheated 15 persons of Rs 1.35 crore after opening accounts in fake names in two banks and withdrawing money of the victims fraudulently, said the police.

A case was registered in this regard under Sections 406, 420, 465, 467, 468, 471 and 120B of the IPC at the Nayagaon police station.

The police said the accused was arrested from Ludhiana where he had been hiding for quite some time.

“The accused is in police remand. Further investigations are on in the matter,” said Mohali SSP Kuldeep Singh Chahal.

The cases

• Karanveer is said to have duped UCO Bank, Kharar, to the tune of Rs 3.65 crore with connivance of some staff members in 2013. He had forged documents of various persons after floating some fake loan firms to pass car loans.
• In another case, Karanveer and his accomplices had cheated 15 persons of  Rs 1.35 crore after opening accounts in fake names in two banks and withdrawing money of the victims fraudulently, said the police.