NRI settled in New Zealand arrested in loan fraud case
Anil Gaikwad, a 41-year-old man settled in New Zealand, was arrested by Mumbai's EOW for his role in a car loan fraud case registered nine years ago. Gaikwad had taken a loan of ?10 lakhs for purchasing a Toyota Innova car and submitted a fake Registration Certificate (RC) to the bank which later turned out to be the number of a Maruti Suzuki Swift car. In all, 16 loans were taken in which the bank was cheated to the tune of ?1.57 crores.
MUMBAI: A 41-year-old man was arrested by the Economic Offences Wing (EOW) for his role in a car loan fraud case. According to the police, the accused was the twenty-first accused to be arrested in the case registered nine years ago. The police said the accused had settled in New Zealand and he was arrested when he returned for his mother’s funeral.
The arrested accused is identified as Anil Gaikwad, 41, originally a resident of Kalyan.
The police said in 2013, the State Bank of Bikaner and Jaipur, which has since merged into the State Bank of India, had lodged a complaint with the police after discovering 16 car loan accounts had never paid any Equated Monthly Instalments (EMI).
Later the bank also found that the defaulters had submitted fake documents as identity and address proofs and had shown six bogus car dealers.
The accused had not purchased any vehicle but taken a loan, and cheques were deposited in the accounts of fake car dealers and the money was distributed among the accused.
In all 16 loans were taken in which the bank was cheated to the tune of ₹1.57 crores.
The present accused, who is the 21st to be arrested in the case, had in 2011 taken a loan of ₹10 lakhs for purchasing a Toyota Innova car and submitted a fake Registration Certificate (RC) to the bank which later turned out to be the number of a Maruti Suzuki Swift car.
“Gaikwad is an MBA and after the fraud settled in New Zealand and started working as a teacher. He has even surrendered Indian nationality and now has a New Zealand passport. He came to India as his mother expired. We were continuously visiting his house after orders from the joint commissioner of police, EOW, Nishit Mishra and DCP Mahendra Pandit every fortnightly,” said the police officer.
A team headed by inspector Dnyaneshwari Awari arrested him after his anticipatory bail application was rejected by the Bombay high court.
