The Hindu : Three held in cheating case

Online edition of India's National Newspaper
Sunday, Feb 29, 2004

New Delhi

New Delhi

Three held in cheating case

By Our Staff Reporter

NEW DELHI, FEB. 28. Three men have been arrested by the Economic Offences Wing (EOW) of the Delhi police for allegedly duping six persons and a bank of Rs. 45 lakhs in the name of providing them easy housing loans. The bank manager was also allegedly involved in the conspiracy.

According to the police, V.P. Arneja (70), Sohan Lal Kapoor (65) and Joginder Kapoor (45), were arrested on February 27 by the Fraud and Cheating Section of the EOW following a complaint from Govindpuri Branch of the State Bank of Patiala.

The police said the three accused, along with the Branch Manager, K.G. Gupta, had assured six persons, Barinder Singh, Surat Singh, Daina Bhandari, Harsh Kumar, Sonia and Pushpa, that they would be given loans worth Rs. 50,000 on easy instalments.

Sohan, Joginder and their accomplice, Kuldeep Kapoor, took them to the bank where manager K.G. Gupta gave an assurance. The unsuspecting individuals signed some documents during the meeting.

However, the documents did not pertain to loan sanction, but were sale deeds in which the signatories had unknowingly offered Power of Attorney to the accused.

Later, the bank issued loans in the name of the six persons - all the formalities were finished within a day - and the amount was withdrawn by the accused within a couple of days.

The six persons were shown as owners of three properties, including a cowshed that was shown as a two-storey building. Another was a disputed property of Chitranjan Park, while the third property was a vacant plot at Faridabad in Haryana.

These properties were shown to be inspected and valued by the bank valuer, V.P. Arneja without him actually going to the sites.

The accused had produced several fake and forged documents in order to avail of the loans.

Six cases under various sections of cheating and criminal conspiracy has been registered at Kalkaji police station and further investigations are on to trace the absconding bank manager and other associates involved in the case.

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