In a significant breakthrough, the Delhi Police have arrested three individuals involved in a Rs 75 lakh loan fraud after utilizing advanced Facial Recognition System (FRS) technology. The accused had secured a loan by fraudulently mortgaging a property using forged documents, exposing a complex web of deceit and criminal activity.
The main suspect, Pankaj Sachdeva, aged 61, also known by the alias Roshan Manchanda, had fabricated property papers and identification credentials to mortgage a property and secure the loan. The police investigation revealed that Sachdeva was supported by two accomplices, Suhail Chauhan and Nitin Verma, who operated as freelance loan agents.
The case dates back to 2019, when a complaint was filed by Harminder Kaur Anand, a Bengaluru-based resident. Anand reported that the property she had purchased in 2011 in Rana Pratap Bagh, northwest Delhi, had been fraudulently mortgaged without her knowledge. She discovered the scam during a visit to the property in 2018, when her son-in-law found a loan notice pasted on the door, prompting her to investigate further.
According to the police, the fraudsters targeted long-vacant properties, creating fake ownership documents to secure loans from financial institutions. The loan proceeds were diverted into multiple bank accounts linked to false identities, making it difficult for authorities to trace the money.
After years of investigation, the Delhi Police leveraged FRS technology to crack the case. A photograph from a bank account opening form associated with the fraudulent loan was processed through the FRS system, which yielded a 72% match to an existing state dossier. This led to the identification of Pankaj Sachdeva as the prime suspect.
Sachdeva had been using the alias Roshan Manchanda and had fabricated multiple identification documents, including a PAN card and voter ID, to facilitate his fraudulent activities. During interrogation, he revealed the involvement of his accomplices, Suhail Chauhan and Nitin Verma, who helped facilitate the loan process and received Rs 18.4 lakh as beneficiaries. Both suspects were arrested from Meerut, Uttar Pradesh, and Faridabad, Haryana, respectively.
The Delhi Police have since been able to uncover a network of forgery and cheating cases linked to Sachdeva, who has been implicated in multiple criminal activities involving fake documents.
The investigation is ongoing, with the police continuing to trace the money trail and ensure that all those involved in this extensive fraud network are brought to justice.