A city-based realtor, who fraudulently obtained multiple bank loans worth over Rs. 1 crore after pledging forged documents of a property in many banks, was arrested by a Central Crime Branch team on Friday. His woman aide, who also used his modus operandi and cheated two banks, was apprehended.

CCB sources said the suspect, K. Mahesh of Middle Street, Mylapore, lured buyers for a property on Abraham Street, Mylapore, through his real estate agency. Eventhough some clients expressed their financial constraint in buying the property, Mahesh sealed the deal after promising to help them obtain housing loan.

“He submitted forged documents of that particular property and obtained a loan on his client's name. Similarly, he found other clients and managed to get more bank loans for the same property. He managed to get Rs. 66 lakh as loan from three banks for the property on Abraham Street,” said P.R. Jesurajan, Assistant Commissioner of Police, Anti Land-Grabbing Cell, CCB.

Mahesh had also used a few other plots to get bank loans in a similar fashion and was operating for the last five years. However, he was arrested last year and released on bail.

The suspect was wanted in six cases of housing loan fraud but evaded arrested after getting an anticipatory bail.

Mahesh's former employee Soundarya (30) who recently started a real estate agency, had teamed-up with him and fraudulently taken loans from two banks. A CCB team arrested Mahesh and Soundarya on Friday morning.

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Petlee PeterJune 28, 2012

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