3 held for Rs 20 crore bank fraud

3 held for Rs 20 crore bank fraud

Three men have been arrested for duping various banks of Rs 20 crore with forged property documents in north-west Delhi, police said.

Anoop Kumar Gupta, 35, Pradeep Upadhyay, 32 and Vijay Bhushan Rustogi, 52, were arrested on Saturday, said a police officer. The main accused identified as Jagmohan Mittal is absconding.

“With the arrest, an ongoing conspiracy to dupe various banks via cash credit sanctions based on mortgage of fraudulent property documents, has been unearthed. We have recovered Rs 1.26 crore from them,” said P Karunakaran, deputy commissioner of police.

They were involved in duping about 19 banks by submitting copies and forged documents of same properties to avail cash credit with these banks. Police said they received a complaint from Bank of Maharashtra regarding cheating and forgery by Anoop Kumar Gupta, Jagmohan Mittal and others. Anoop had approached Bank of Maharashtra’s Pitampura branch for sanction of cash credit loan in his firm Sonal Traders against equitable mortgage of property at Pitampura and deposited original-like title deeds with the bank besides completing other formalities.

The credit cash limit of Rs 2.55 crore was fixed but on checking, it was revealed that the same property was already mortgaged with Bank of Baroda’s Kirti Nagar branch to a firm named Ashok Agency whose proprietor was Anoop Kumar Gupta.

Later, it was learnt that the same property is mortgaged with Punjab National Bank’s Ashok Vihar branch to Shri Rama Agency. On physical verification of the property’s documents with Bank of Baroda, it was found that they were also having original papers of the property.

The bank then lodged a complaint with Maurya Enclave police station. During investigations, police found that Jagmohan and Anoop have conspired with Pradeep and Vijay.