Four members of a family have been arrested for allegedly cheating at least five banks of ₹20 crore by forging papers and availing loan by mortgaging property, which was acquired by Delhi Metro Rail Corporation, the police said on Saturday.
Joint Commissioner of Police (Economic Offences Wing) O.P. Mishra said that the accused have been identified as Ashwani Arora, Vijay Arora and their wives.
The police said that the accused duped Bank of Baroda, Punjab National Bank, Syndicate Bank, Karnataka Bank and OBC Bank.
ADVERTISEMENT
The police said that the accused prepared forged chain of property papers and on the basis of these forged documents, they succeeded in registering the property fraudulently before the Registrar Office either in their name or in the name of persons known to them.
“These accused persons also created multiple identities by changing their names and parentage. They also created multiple identity papers in order to evade the scrutiny process adopted by these banks. During investigation it is found that accused persons not only multi-mortgaged the properties but also availed loan on the property which was already acquired by the DMRC,” Mr Mishra said.