A thirty two-year-old man, who posed as an employee of a private bank, was arrested by Andheri police on Saturday, for cheating several people.
The accused, Sanjay Pande, used to take cheques in the bank’s name from the victim by offering to procure auctioned flats at lower rates. He would later erase the bank’s name and deposit the cheque in his personal account. The police estimate that the fraud could run into crores of rupees and that there is a possibility that some bank employees may also be involved.
According to the police, the complainant, Dharmesh Pandya, 40, a real estate investor and resident of Goregaon, filed a complaint last week and stated in his complaint that he had met the accused through a common friend in October 2010.
“Pande posed as a wealth manager. He told me that he could offer flats which were confiscated from defaulters and about to be auctioned. He also told me about four flats in Nalasopara which had been confiscated by the bank. I was interested, so I gave him three separate cheques worth Rs1.5 lakh each,” said Pandya.
“I also gave him a cheque for Rs18 lakh and Rs14lakh respectively for the auction. The cheques were in the bank’s name. I paid a total of Rs38 lakh” said Pandya.
“After we negotiated per flat cost for Rs5 lakh, after which the collective cost was Rs20 lakh but I had already paid Rs38 lakh. I asked for a refund of Rs18 lakh. Initially, Pande assured me that he would give the refund but then he started avoiding me. Later I found that Pande had deposited the cheques in his personal account” added Pandya.
Another complainant, Ashok Musle, gave Pande a cheque of Rs3.5 lakh for settling his car loan. But he allegedly deposited the cheque in his personal account. Musle said that after few months he found that Rs6.63 lakh had also been debited from his account.
“We have arrested Pande on the charges of fraud and forgery, following the complaints against him. Investigations are on” said senior police inspector, Shivajirao Deshmukh, Andheri police station.