Man cheats bank of Rs. 25 lakh, held

A 38-year-old man, owner of a finance company, was arrested for cheating HDFC bank to the tune of Rs. 25 lakh.

A 38-year-old man, owner of a finance company, was arrested for cheating HDFC bank to the tune of Rs. 25 lakh.

HT Image

Police said the accused, identified as Anand Chopra, was running a finance company and had entered into an agreement with HDFC bank in 2008.

As per the agreement, Chopra used to take loan requests from customers and forward it to the bank. After verification, the bank deposited money in the account of Chopra's company. But instead of forwarding the money to customers, Chopra forwarded it to his personal account and fled.

"From time to time, Chopra transferred money into his account. The bank conducted an internal inquiry and lodged an FIR with the IP estate police station in 2010 and since then we have been looking for him. On Sunday, Chopra was arrested from his in-laws house in Uttam Nagar," said a senior police officer, who did not want to be named.

Police said Chopra was running the finance company since 2001 and it is suspected he may be involved in other cases too.

"He used to change his location frequently and was currently running a finance company. We have taken him into police custody for two days," the officer added. Police said Chopra, along with his friend, had floated the finance company. His friend is absconding.

"We have identified him and Chopra's interrogation will reveal more details. To recover the money, his arrest is important. Chopra is claiming that the money is with him," the officer further said.