Duo takes bank for a ride, swindles it of Rs 20 lakh

Saturday, 1 February 2014 - 1:27pm IST | Agency: DNA

Two men duped the Parel branch of Oriental Bank of Commerce (OBC) to the tune of Rs20 lakh by availing car loans with the help of forged documents. One of them even conned the bank to give him money for a car that was already mortgaged with another bank.

The Bhoiwada police have arrested one of the accused, identified as Thane resident Rajesh Shahu, while his accomplice Kanaram Kumawat is still at large.

The police said Shahu bought a Toyota Innova in 2012 after taking a loan of Rs 10 lakh from a Vasai bank. Few months later, he approached OBC with bogus papers and sought Rs10 lakh towards loan. Kumawat stood as his guarantor.

To execute his plan, Shahu had opened a current account in the name of Vighnaharta Motors in Bharat Co-operative Bank, Ghansoli, and showed his name as Sunil Naik, the proprietor of the car dealer. After getting Rs10 lakh from OBC, he transferred the money to his own account.

Meanwhile, Kumawat also applied for loan of Rs10 lakh in OBC by producing forged paper in October 2012 to buy an Innova and was granted the money. The duo stopped paying EMIs after three months, prompting branch manager Mahesh Agarwal to lodge a police complaint on January 21.

During investigation, the police came across a friend of Shahu, 38, who spilled the beans about his whereabouts. The cops then laid a trap and nabbed him on Wednesday.
“Shahu was arrested for cheating, forgery and criminal breach of trust and remanded in police custody till February 3 by the local court on Thursday,” said Inspector Sunil Kale of Bhoiwada police station. He added that manhunt had been launched to nab Kumawat.

Wheeling trouble
The police said Thane resident Rajesh Shahu bought a Toyota Innova in 2012 after taking a loan of Rs 10 lakh from a Vasai bank. Few months later, he approached OBC with bogus papers and sought Rs10 lakh towards loan. His accomplice Kanaram Kumawat stood as his guarantor.


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