The chairman and secretary of a Kandivli-based housing society have been arrested along with seven others in connection with a multi-crore fraud by the Kurar police. Police said the accused, Vishwanath Tambe and Sambhaji Sawant, were dishing out fake share certificates of flats in the building-already owned by a member-to outsiders who wished to avail home loans from banks against it.
The mastermind of the fraud-which runs into Rs 5 crore-is a broker Manibhai Chetty, who has also been arrested. The police first got a complaint about the fraud in September when officials of the Centurion Bank of Punjab filed a complaint. The bank had granted a home loan of Rs 8.5 lakhs to one Abu Bakr Jamadar in July 2006 on the basis of income and property documents submitted by him. In August, Jamadar was supposed to repay the first installment of Rs 8,000 but the cheque issued by him bounced.
“When bank officials landed at his address at Charkop’s Sai Kripa Society, it was found that Jamadar never lived there. In fact, the flat did not belong to him at all,” said Ganesh Apraj, regional manager with the Centurion Bank of Punjab. The bank lodged a police complaint and checked Jamadar’s documents and it was found that the property documents he had submitted were bogus. The police then started making enquiries with the chairman, secretary and treasurer of Sai Kripa Society. Sleuths found that the chairman, Vishwanath Tambe, and secretary, Sambhaji Sawant, had joined hands with the broker, Manibhai Chetty.
While Tambe and Sawant dished out fake share certificates and allotment letters of the same flat to different individuals, Chetty guided them on approaching banks for home loans. In this manner, they gave out fake documents to as many as 54 people-including car transporters and administrators.
Deputy commissioner Shivaji Bodkhe said Tambe and Sawant also opened fake accounts in the society’s name in Corporation Bank at Kandivli, UTI bank at Kandivli and North Canara Bank at Bhayandar. Once the loan was granted to an applicant, the pay order issued by the bank was deposited in one of these three accounts. Amongst the nine people arrested are Tambe, Sawant, Chetty, Abu Bakr Jamadar, Shabbir Patel, Ashok Kumar Gaikwad, Gautam Taambe, Shripal Pawar and Zubair Khatri. The accused have been remanded to custody by a metropolitan court.
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