Businessman held for duping bank of Rs 22.5L

  • | Sunday | 9th December, 2018

His mother and he had opened a joint account at the Undri branch of the Saraswat Cooperative Bank. PUNE: The police on Saturday arrested a businessman and booked his mother for duping the Undri branch of a bank of Rs22.5 lakh by submitting falsified documents for a home loan.Amol Vijay Vetal (29) from Hadapsar was taken into custody following a tip-off. He then submitted documents to the bank to secure a home loan. I don’t know what Vetal did with the money, but he claimed that he used it to clear his debt. His mother and he visited the bank and completed the necessary formalities.

PUNE: The police on Saturday arrested a businessman and booked his mother for duping the Undri branch of a bank of Rs22.5 lakh by submitting falsified documents for a home loan.Amol Vijay Vetal (29) from Hadapsar was taken into custody following a tip-off. He will be produced before a magisterial court seeking custody on Sunday.A notice under section 41(a) of the Code of Criminal Procedure was served to his invalid, 74-year-old mother Shashikala, seeking her cooperation in the investigation.Bank manager Vinayak Jagtap (39) has registered an FIR against the mother-son duo, accusing them of offences such as cheating, criminal breach of trust and forging documents, among other sections of the Indian Penal Code , at the Kondhwa police station on Thursday.Vetal runs a business renting generator sets. His mother and he had opened a joint account at the Undri branch of the Saraswat Cooperative Bank. They later applied for a home loan to purchase a flat in a housing project on Handewadi Road, in Hadapsar.“Vetal had booked a flat in a housing project, paid a token amount and signed an agreement with the builder. He then submitted documents to the bank to secure a home loan. His mother and he visited the bank and completed the necessary formalities. We sanctioned the loan on completion of the legal formalities. The documents filed by him appeared to be original. We did not suspect their genuineness, as they had seals and stamps of government officials,” Jagtap told TOI over the phone.“Months later, a case of home loan fraud surfaced in our Paud Road branch. An inquiry revealed that the loan proposal was initiated by an Amol Thorat. We later scrutinized Vetal’s documents, as his proposal was initiated by the same person (Thorat),” Jagtap added.“The inquiry revealed that Vetal had opened a fictitious account in the builder’s name at Lokmanagal Cooperative Bank and withdrew the money deposited by our bank via RTGS. I don’t know what Vetal did with the money, but he claimed that he used it to clear his debt. That fact needs to be established by the police at the earliest during the course of their investigation,” Jagtap stated.“The bank had provided details of Vetal and we conducted a technical investigation to arrest him. We are questioning the suspect to find out how he had prepared the forged documents, what he did with the loan amount and who else involved in the fraud,” sub-inspector Vivek Padvi told TOI.

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