1 held for Rs 48 lakh loan fraud, ‘kingpin’ at large

Tribune News Service

Faridabad, April 20

The police have arrested a person in connection with a fraud of Rs 48 lakh. The amount was allegedly taken as loan on the basis of a fake sale deed of a property in Punjabi Bagh of Delhi from a public sector bank here three years ago.

The accused was identified as Yogesh of Nangloi in New Delhi. Yogesh had approached the branch of the Indian Overseas Bank in Sector 12 here in 2021 to seek a loan of Rs 48 lakh on the basis of the registration papers of a property.

The accused allegedly stopped the payment of loan installments soon after he got the money transferred into another account and withdrew it. The bank officials lodged a complaint with the police in 2023 after they found that the accused had given a fake address and they failed to trace him.

Yogesh was an employee of a chemical factory, owned by one Sanjiv. Yogesh has claimed that Sanjiv was the mastermind of the racket as he got a fake firm registered in the name of Yogesh, who applied for the loan on the basis of the documents prepared by Sanjiv.

It is alleged that Sanjiv, Yogesh and one other person have been involved in at least 10 cases of fraud/cheating in Gurugram earlier, said the police.

While the accused has been remanded to three-day police custody, the police are likely to arrest the other accused in this connection soon, said Sube Singh, spokesperson of the Police Department.

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