Gurugram man’s complaint reveals ₹4.7 cr home loan fraud

During the audit, it was discovered that 13 individuals had submitted forged property deeds to secure the loans in Gurugram

A resident’s complaint to a public sector bank regarding the misuse of his KYC documents has revealed a significant home loan fraud involving at least eight loans totaling ₹4.79 crore, police said on Sunday, adding that these loans were availed on the basis of forged property deeds.

Investigators disclosed that the fraudulent loans were secured from the DLF Qutub Plaza branch in Gurugram using forged property deeds for immovable properties in Delhi (HT Photo)

Investigators disclosed that the fraudulent loans were secured from the DLF Qutub Plaza branch in Gurugram using forged property deeds for immovable properties in Delhi. Thirteen suspects obtained the loans between August 2020 and September 2021, a period marked by the Covid-19 pandemic. Eight of these suspects posed as married couples, while the remaining five acted as individuals.

The fraud came to light when Maneesh Kumar, a Gurugram resident, filed a written complaint with the bank, said a senior police officer aware of the case. Kumar alleged that his KYC documents had been misused to secure a ₹53.5 lakh home loan from the Qutub Plaza branch against a property in Delhi.

“Following the complaint, senior officials at the bank’s regional office of the Delhi-NCR, asked the concerned branch to conduct a stern audit of all the loans, especially home loans borrowed for properties in Delhi,” the officer said on condition of anonymity.

According to the bank complaint, during the audit, it was discovered that 13 individuals had submitted forged property deeds to secure the loans. Physical verifications of the properties in Vikas Puri, Paschim Vihar, and Shalimar Bagh in Delhi revealed that the rightful owners had never sold their flats to the suspects, who falsely claimed ownership to obtain the loans, said the officer.

Investigators said that the bank officials also took help of Delhi government registry office and procured original deeds and found that they didn’t match from the one they were in possession of, after which it became evident that a large-scale fraud had taken place and modus operandi of the suspects were the same.

Further investigation, including collaboration with the Delhi government’s registry office, confirmed the forged deeds. This revelation prompted Sayed Abdul Khader, the chief manager of the Qutub Plaza branch, to file a formal complaint on April 24, 2023. The Economic Offences Wing (EOW) of the Gurugram Police conducted a thorough inquiry, leading to the registration of an FIR against the 13 suspects under sections 120B (criminal conspiracy), 420 (cheating and dishonestly inducing delivery of property), 467 (forgery of valuable security, etc.), 468 (forgery for purpose of cheating), and 471 (using as genuine a forged document) of the Indian Penal Code at DLF Phase-II police station on Saturday.

Station house officer (DLF Phase-II police station) inspector Shahid Ahmed, stated that the EOW is handling the investigation. “Actions against the suspects will be taken by the EOW,” he added.