They include representatives of a bank and a financial institution
Seven persons, including representatives of a bank and a reputed financial institution, have been arrested by the Delhi Police Crime Branch for allegedly procuring a loan amounting to Rs.2.7 crore using forged documents. The prime accused had invested his share in the stock market and properties.
The police initially arrested the alleged mastermind Ajit Pundhir (36), a resident of Meerut Cantonment in Uttar Pradesh. At his instance, the other accused were held. They were identified as Ram Niwas (25), Prem Prakash (29), his brother Anil Kumar (27), Sunil Goldar (44), his wife China (40) and their daughter Vandana (21). “Sunil, his wife and their daughter were the beneficiaries,” said Deputy Commissioner of Police Ashok Chand.
During interrogation, Ajit purportedly disclosed that he had obtained a personal loan from the bank concerned, but could not pay the instalments. He approached the bank for a job, but was turned away. He then started working as a “freelance agent” for the bank and in due course, came in contact with Ram Niwas and Prem Prakash, who worked in the loan against securities division of the bank at its Jhandewalan branch. The two were engaged in verification of the documents submitted by loan seekers.
Ajit allegedly roped in the two accused in the conspiracy. At his instance, Prem Prakash arranged two dozen blank insurance policies from the office of his brother Anil. According to the police, Ajit then forged 12 policies and applied for bank loans by mortgaging the fake investment papers under fictitious names.
Ram Niwas and Prem Prakash allegedly certified those documents as genuine, following a loan of Rs.2.7 crore was sanctioned by the bank.
Ajit allegedly received about Rs.2 crore and invested the money in shares and property.
The police said Prem Prakash received Rs.49.4 lakh and through him, his girl friend Vandana and her parents bought two flats in Pandav Nagar. Ram Niwas received Rs.15 lakh as his cut and invested it in a Ghaziabad property, they added.
The police have so far identified and seized immovable properties worth Rs.50 lakh that were acquired by the accused. “Ram Niwas had been working with the bank for the past three years and was presently getting Rs.7,000 per month along with commission, whereas Prem Prakash was getting Rs.6,000 plus commission. Accused Anil had been working with the insurance company on a salary of Rs.3,000 and commission,” said the officer, adding that blank and forged investment papers were purportedly seized from the accused.