New Delhi: The Economic Offences Wing (EOW) of Delhi Police arrested a couple from Jalgaon, Maharashtra, for mortgaging the same property with seven different financial institutions using forged documents and duping them to the tune of Rs 25 crore, an official said on Saturday.
The accused, identified as Jitender Jain and his wife Anjana Jain, were wanted in other cases, and a reward of Rs 1 lakh was declared for information leading to their arrest.
Their arrest follows the registration of an FIR by the EOW police station in Delhi on the complaint of Deepankar Sinha, of Karvy Finance Services Ltd, alleging that Anjana and Jitender Jain had obtained a loan of Rs 2.6 crore against their residential property in 2014, located in the main market of Bhajanpura.
During the investigation, it was discovered that the accused managed to secure a loan of Rs 25 crore by mortgaging the same property with seven different financial institutions, including Central Bank of India, Syndicate Bank, Oriental Bank of Commerce, Cholamandalam Finance, Karvy Finance, among others.
“The accused had been absconding since July 2016, continually changing their addresses across the country, including Delhi, Theni in Tamil Nadu, Bangalore, Nasik, and Jalgaon,” said Deputy Commissioner of Police (EOW) Vikram Porwal.
The couple was arrested from a rented accommodation at Grahkul Colony in Jalgaon after technical surveillance provided specific information about their location.
The DCP further explained the modus operandi of the accused, stating that they obtained loans based on forged and fabricated Sale Deeds of the property offered as collateral security to the banks.
“The loan amounts were withdrawn as cash, and some of it was used to set up a temporary factory at Narela Industrial Area to obtain further loans by showing the factory in working condition,” said the DCP.
“The cheated amount was primarily used to support the accused’s existing ‘sweets’ business and their lavish lifestyle,” the DCP added.
–IANS