Delhi: Former manager of finance company arrested for fraud
A 48-year-old former manager of a housing finance company has been arrested by the economic offences wing (EOW) of Delhi Police for allegedly cheating the company of Rs. 1.5 crore by disbursing loans to non-existent people, police said on Sunday. HT reports.delhi Updated: Apr 01, 2013 02:16 IST
A 48-year-old former manager of a housing finance company has been arrested by the economic offences wing (EOW) of Delhi Police for allegedly cheating the company of Rs. 1.5 crore by disbursing loans to non-existent people, police said on Sunday.
Vishwanath Tantri, who hails from Bangalore, was wanted in 35 cases of cheating and he was declared a proclaimed offender (PO) by a city court because he was evading the law for several years.
Sandeep Goel, joint commissioner of police (EOW), said Tantri was apprehended on Friday following investigations into a complaint filed by the Maharishi Housing Development Finance Corporation (MHDFC) where he allegedly duped the company by extending housing loans to a large number of non-existent people.
The company claimed that during 1997 to 2005, Tantri, who was manager of its Bangalore branch, allegedly gave loans to a large number of people, but later it was found that the properties against which the loans were availed were non-existent and the guarantors were not traceable, Goel said.
“After an internal enquiry, MHDFC got a total 36 FIRs registered at the Sarita Vihar police station based on the court’s directions in November 2006. Subsequently, all the cases were transferred to EOW in May 2009 for further investigation,” Goel said.
During investigations, he said, the documents related to loans submitted by borrowers to the complainant were collected. Glaring and major discrepancies were found in the application forms as well as supporting documents attached for availing of the said loans.
Many of the documents, including salary slips, physical verification certificates, property papers, verification certificates from Tehsildars were found fabricated and forged. Investigations revealed that many loans were disbursed to non-existing persons.