Couple cheats 20 banks in Mumbai’s biggest heist and flies away. Alleged fraudsters Seema and Rajkumar Basantani may have escaped to US
The biggest heist in Mumbai's banking history has left 20 banks poorer by at least Rs150 crore.
The alleged fraudsters - Seema and Rajkumar Basantani - are believed to have escaped to the US under fake identities.
In true Bunty Aur Babli style, and with equal panache, the couple used the same set of documents and flats as collateral to take loans from 20 banks, taking advantage of the lack of information-sharing among banks, and vanished.
A senior officer attached to unit VII of the economic offences wing (EOW) of the city police told DNA on condition of anonymity: "A red-corner alert was issued against the couple six months ago following complaints from affected banks."
He said the EOW had identified Basantani assets adding up to Rs17 crore. "We are also investigating the possible involvement of senior and middle-level bank officials," he said.
Additional Commissioner of Police (EOW) KL Bishnoi said he would look into the case's status before commenting.
DNA has access to details of the documents filed by the duped banks before the Debt Recovery Tribunal (DRT).
UTI Bank was the first to file a case before the DRT and was issued a recovery certificate of Rs5 crore in February 2, against the couple's properties in Mumbai that are collectively valued at just Rs1 crore.
The total value of the properties, located in Khar and Dadar, along with shares of the companies floated by the couple (Soundcraft Industries, Seema Jewellery Park of Bangkok, DUBS Diamonds, USA, and SMG International LLC, New York) fall far short of what was offered as collateral by the duo when availing the huge credit lines.
Conned!
27.38 cr
Andhra Bank
14.20 cr
UCO Bank
8.64 cr
Punjab National Bank
5.45 cr
Catholic Syrian Bank
4.99 cr
UTI bank
4.27 cr
Bank of Baroda
2.02 cr
Bharat Overseas Bank
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