BENGALURU: The Jayanagar police have arrested six persons, including five of a family, for allegedly creating fake documents on a single property in Begur and mortgaging the same property to 22 banks to raise loans of Rs 10 crore.
The accused have been identified as Nagesh Bhardwaj, his wife Suma, her brother Satish, sister Shobha and her husband Shekhar Giri, and Suma’s friend Vedha. The family hails from Mysuru and all six are residents of Begur.
Police said the manager of a cooperative bank in Jayanagar 3rd Block filed a complaint in December 2022 stating that a couple had taken a loan of Rs 1.30 crore by mortgaging a 2,100-sqft property and failed to repay the EMIs. During the investigation, the police arrested the couple and learnt that they had cheated several banks with the same modus operandi.
“The couple created fake documents of their property in Begur with fake survey numbers, site numbers and wrongly dimensions. They executed the sale deeds with the other accused persons and registered the same at the sub-registrar’s office. With the support of these documents, they applied for loans and cheated banks. Investigations revealed that the accused cheated 22 banks, including nationalised banks, and raised loans of Rs 10 crore. In some cases, they have also taken loans for machinary,” the police said.
The police also suspect the involvement of bank officials in the case. “As there are possibilities that bank officials could have sanctioned the loans by taking commission from the accused, we are collecting details from the banks,” the police said, adding that four banks have filed complaints against the accused.