The Economic Offences Wing (EOW) of Delhi Police has uncovered a major loan fraud racket and arrested three men accused of defrauding the State Bank of India (SBI) of Rs4 crore using forged property papers belonging to an unsuspecting Dwarka resident, officials said on Thursday.
The arrested individuals have been identified as Jatin Prasad, Rajender Kumar alias Raja, and Sandeep Singh, all residents of Delhi and Haryana.
According to Deputy Commissioner of Police (EOW) Ravi Kumar Singh, the trio used fake documents linked to a property in Sector-12, Dwarka, to fraudulently secure a Rs4 crore Cash Credit (CC) limit from SBI’s MG Road branch in Gurugram.
During the investigation, police found that Sandeep Singh had impersonated the actual property owner by using forged PAN and Aadhaar cards. He was then illegally appointed as a director in Zukito International Pvt. Ltd., following which the forged property documents were mortgaged to obtain the loan. The borrowed funds were later diverted through personal and shell accounts.
Investigators also learned that Rs60 lakh was allegedly paid as commission to accomplices who arranged the fake documents and facilitated the impersonation. Police stated that Rajender Kumar, who already has a criminal history involving robbery and theft, played a significant role in sourcing forged papers and coordinating the fraudulent transactions.
Following technical surveillance and field operations in Kaithal and Hisar in Haryana, the EOW team arrested all three accused. Further investigation is ongoing.
