Submitted forged property documents to procure a housing loan four years ago; duo are now absconding
Submitted forged property documents to procure a housing loan four years ago; duo are now absconding
The Ashok Nagar police have booked a couple for cheating a bank to the tune of Rs 15 lakh.
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The accused, GB Kishore Rao and his wife Shanti, were running an IT firm and allegedly submitted forged property documents to procure a housing loan four years ago.
However, the fraud came to light only recently when the bank rechecked the documents submitted by them.
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The duo had even submitted documents, and produced a guarantor to help them get the loan.
The bank then sent out its officials and legal advisers for verification and valuation of the property. The team had found nothing amiss then and the bank subsequently sanctioned the loan.
After the formalities, Kishore submitted copies of the title deed and property documents for a guarantee, and his brother-in-law, Hemanth Rao, stood as guarantor for the same.
The couple also agreed to pay a monthly installment of Rs 14,510 to the bank.
But the couple defaulted on their installments, following which the bank issued a legal notice. But when there was no response to the notice, the bank put the property papers under non-performing assets for auction.
The scam came to light after bank officials verified the documents for auctioning the property, and found that the documents submitted to the bank were fabricated.
u00a0Officials found out that the property had been sold to one D Puroshotham by the owner Sanjevamma, and not to Gopalkrishnan as mentioned in the documents, Sonnappa said.
The bank tried to locate the couple, but by then they had gone absconding. Hemanth was nowhere to be found either.
Sonnappa hinted that the couple may have been professional fraudsters, and may have cheated other banks using a similar modus operandi.
The Ashok Nagar police have taken up the case and are investigating. "We have some clues, and working on locating the culprits," said an investigating officer.
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