Bengaluru | The Story of Property Loan Fraud: How 22 Banks Were Fooled, Six Arrested
BENGALURU: Jayanagar police have arrested six individuals, including a couple and their relatives, for creating fake documents related to a single property and obtaining loans from 22 banks amounting to more than 10 crores.
The accused were altering survey numbers and site numbers of a building in Begur village and obtaining loans from various banks. The suspects then used these fake documents to register deeds and obtain loans from nationalized banks, cooperative banks, and cooperative banks.
Since 2014, the accused had obtained loans totaling more than ten crores from a total of 22 banks for various purposes. Only four bank representatives had raised suspicions about the fraud. The case was documented in the Jayanagar police station in 2022.
The suspects had managed to evade the police until recently, when the Assistant Commissioner of Police V Narayanswamy led a team to track them down. Currently, all six accused individuals have been arrested, according to Bengaluru City Police Commissioner B. Dayananda.
About the Author
