Accused created forged appointment letters, salary slips, and bank statements to show stable income; real estate firm — Versatile Valley — also booked
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A major home loan fraud involving a loss of Rs 2.72 crore to a private bank has surfaced in Mumbai, in which multiple housing loans were allegedly obtained using forged employment records, fake salary credits, and falsified documents, police said. The loan amounts ranged from R27.84 lakh to R71.65 lakh, linked to flats in Thane and Dombivli, which have since been taken into possession, said police.
According to the complaint filed with the Ghatkopar’s Pantnagar police, between January 13, 2020, and November 29, 2022, home loans worth R2,72,14,726 were sanctioned in the names four people identified as Bayaja Pandurang Bagadi, Dipak Tanaji Pawar, Rekha Vijay Jadhav (since deceased), and Aman Chandranath Sharma. The loans were approved on the basis of documents falsely showing them as salaried staff of private firms.
Repayments were never made, said the complainant, Joseph David Nadar, a senior official with the bank (name withheld). He added, “The internal verification later revealed that the borrowers never worked at the companies mentioned in their applications and were either untraceable or had vacated their stated addresses.
The accused created forged appointment letters, salary slips, and bank statements to falsely show stable income and secure home loans. The amounts credited as salary were immediately transferred to other accounts to create a false financial trail,” Nadar further stated in his statement to the police.
Based on the complaint filed, police have named one Sandeep Shivram Yadav as the prime accused. A real estate firm — Versatile Valley — has also been named for allegedly routing funds to create the appearance of legitimate property transactions. A senior police official said, “We will begin the investigation now. All the accused will be sent legal notice to appear for recording their statement.”
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