Delhi: Mastermind of Rs 3 crore property loan fraud arrested
New Delhi, Aug 4 (IANS) A businessman working as a financier and loan facilitator was arrested in East Delhi’s Laxmi Nagar area for his involvement in a Rs 3 crore property loan fraud against a finance company, an official of Delhi Police’s Economic Offences Wing said on Tuesday.
Maneesh Kumar, 59, a resident of Laxmi Nagar, was apprehended from his office in connection with the case involving impersonation, fake/forged title deeds and shell companies, said Ravi Kumar Singh, Additional Commissioner of Police, Economic Offences Wing, New Delhi.
He was involved in a fraud with Protium Finance Ltd, the police said.
He was arrested in connection with FIR 78/25 registered under section 419/420/467/468/471/120-B IPC, Police Station EOW, New Delhi, on July 14, the police said.
The complaint against Maneesh Kumar was given by Lovleen Manchanda, authorised representative of Protium Finance, alleging that a housing loan of Rs 3 crore was fraudulently obtained by him for the purchase of a property at D-Block, Anand Vihar, Delhi.
Investigation revealed that the sale deed dated November 9, 2022 was executed based on forged documents by an impersonator, a lady (since deceased), who falsely posed as the genuine owner, another lady.
The impersonator executed two fraudulent sale deeds of the same property within a span of 25 days, enabling the accused persons to secure loans from financial institutions, the police said.
Investigation established that accused Maneesh Kumar, who projected himself as a bona fide purchaser, was an active conspirator in the fraud, the police said.
The accused persons not only used forged title documents and impersonation to obtain the loan but also created shell companies and firms to siphon off the loan proceeds, the police said.
It was revealed that the accused falsely showed another lady (since deceased) as his spouse and co-applicant in the loan documents, whereas his actual wife is a different person. Further investigation is in progress to identify the involvement of other accused and trace the proceeds of crime, said Ravi Kumar Singh, Additional Commissioner of Police.
During technical surveillance, it was found that the accused was frequently changing his residence to evade arrest. After continuous surveillance, he was traced to a rented accommodation at Laxmi Nagar, Delhi, and arrested, the police said.
Investigation revealed that the accused, proprietor of Global Trading Company, had created fictitious firms, including Global Finance and Bankey Bihari Enterprises, to fraudulently obtain a loan of approximately Rs 3 crore from Protium Finance by using forged documents, the police said.
During the search, multiple mobile phones, SIM cards, digital signature certificates, cheque books of various banks, POS machines and other incriminating documents were recovered from his possession, the police said.
Cautioning property owners and finance firms, Ravi Kumar Singh, Additional Commissioner of Police, said the owner of a property should not leave his property unattended, and a regular check/visit should be made to ascertain the status of security of the property and its present status.
He said bank/financial institutions should apply their due diligence while disbursing loans against a property specially those which are vacant for a long time.
–IANS
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