The Economic Offences Wing arrested a businessman for allegedly duping a private bank of Rs 4.5 crore by submitting fake property documents. The accused Mubarak Wahid Patel, 55, was nabbed soon after his name appeared in a fraud case, a Times of India report read.

In 2017, the accused submitted property documents of shops and flats in Mira Road which were registered in someone else's name by scheming with a tax consultant. An official statement from the police read that Patel paid Rs 51, 000 to obtain bogus sale-purchase documents based on which he applied for a loan of Rs 3 crore from a private bank. "His loan was granted, after which he again submitted another set of fake documents and availed Rs 1.5 crore cash credit. After receiving the amount he transferred it into another account," said the police.