During interrogation, it was found out that one of the accused had worked with Indian Post in Nanded and was dismissed from service for cheating and forgery.
This picture has been used for representational purpose
The Panvel police arrested four people, including a suspended postmaster, involved in the preparation of fake savings schemes certificates of the Indian Postal department. The police seized Kisan Vikas Patra (KVP) and National Savings Certificate (NSC) from their possession. The racketeers have forged documents worth Rs 6 crore and had also succeeded in mortgaging some certificates to get loans from banks, a police official said.
According to police, assistant police inspector Rahul Sonawane received a tip-off that some people, who are involved in the preparation of fake savings certificates and mortgaging them in banks to get loans, will visit a private bank in Panvel. Acting on the tip-off, cops laid a trap and nabbed two of the accused when they arrived at the bank to deposit the certificate on January 20.
Cops seized two KVP and seven NSC from the accused. The interrogation of the two led to the arrest of two more accused. One of them is a former postmaster.
During interrogation, it was found out that one of the accused, identified as Baburao Chavhan (24), had worked with Indian Post in Nanded and was dismissed from service for cheating and forgery. The other three accused have been identified as Suprabhat Singh (50), Sanjay Kumar Prasad (46), both from Kharghar, and Dinesh Upade.
"Chavhan is the brain behind the racket as he was aware of the whole functioning of post services and the loopholes in it," a police officer said. The police have seized 6 fake KVPs valued at Rs 50 lakh each, 10 KVPs valued at Rs 20 lakh each, and 9 KVPs of different denominations worth Rs 86.50 lakh. The total seizure is worth Rs 5.89 crore, including a car.
"The accused had tried to mortgage KVPs and NSCs at the corporation and private banks. We are looking for more men involved in this racket and how much money they have made," senior inspector Ajay Kumar Landge of Panvel city police station said. All the accused have been remanded in police custody till January 27.
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