Two arrested by Delhi Police for defrauding two banks
India Today
Two men were arrested by the Delhi Police on charges of bank fraud.
The Economic Offences Wing (EOW) of the Delhi Police arrested two men in connection with a bank fraud case. They availed home loans upto Rs 2 crore by multi-mortgaging the same property to different banks.
The two arrested have been identified as Amarjeet Singh and Om Prakash Singh from Delhi. The police said Amarjeet Singh was previously involved in a similar case.
The case was registered after a complaint was filed by Edelweiss Housing Finance Ltd saying that they had availed a loan of Rs 2.5 crore to Om Prakash. They said that Om Prakash had approached the bank in 2017 to buy a property from Amarjeet Singh.
The complainant said that after the accused stopped paying their monthly loan instalments after a while. After that, the company officials visited the mortgaged property for inspection only to find out that it was in the physical possession of the Punjab National Bank (PNB).
During the course of the investigation, it was revealed that the accused had taken a loan from the PNB Housing finance on the same property. After the accused did not pay back the loan, the PNB Housing finance took possession of the property under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act.
On June 1, Amarjeet Singh was arrested in Delhi’s Pitampura after the police obtained information about his whereabouts. Om Prakash Singh was arrested on June 2.
