Husband-wife duo reportedly submitted forged documents to secure numerous bank loans in 2018
A special city police squad arrested a man who, along with his wife, was allegedly involved in a large-scale fraud for millions of rupees.
The arrest was identified as Reji Paulose, 47, from Thripunithura. He was recovered from Kamudam Nagar in Coimbatore, where he was in hiding.
The man was arrested by Ernakulam Town South Police on a petition from the director of the Panampilly Nagar branch of the Federal Bank in a case dating back to 2018. His wife, Ajitha Reji, 43, is also charged.
The couple allegedly submitted forged documents to secure a car loan, home loan, home mortgage and asset custody loan of 1.59 crore between July and August 2018. They did not repay the loan. and have accumulated dues of 1.83 crore.
“The accused submitted false computer reports and an audit report to secure the loans. We also seized two bags containing 12 PAN cards, 10 voter ID cards, several Aadhaar cards at different addresses, two driver’s licenses and 22 ATM cards and credit cards from various banks, ”MS Faisal said. , Station Manager, Town South.
It has now emerged that the couple had deceived many more people across the state by arranging loans against their properties. Complaints were lodged against them in the police stations of Palarivattom, Kadavathra, Hill Palace, Aluva and Cherthala.
Previously, they targeted homeowners with a low CIBIL score and properties that banks would not have loaned money against.
“They either approached the victims through brokers or advertised to arrange home loans for otherwise ineligible people. They then obtained loans against the collateral of the assets of the victims using false documents. While the initial loan amount is shared with the owners, they then supplement the loan for huge amounts with the connivance of the banks and unbeknownst to the owners who experience a brutal shock when they are hit with a foreclosure notice. for non-payment of huge dues, ”said Manual Jacob, one of the victims who formed some sort of council of action and petitioned the chief minister.
In some cases, the property was registered in the name of the defendant against forged documents on the promise to return them when the loan was repaid.
The accused also allegedly carried out another scam in the name of the sale of apartments and villas showing properties that were owned by someone else and had been burgled or heavily mortgaged. Mr Jacob claimed to have lost ₹ 36 lakh in this way.
“Then, as a settlement, they gave me seven different properties, which I later realized were heavily mortgaged and on which the banks had the first claim. The Action Council already has nine victims who have been collectively deceived to the tune of crore, ”said Mr. Jacob.
Police expect more people to file complaints. District Police Chief (Kochi City) H. Nagaraju had formed the special squad under the leadership of Deputy Commissioner Y. Nizamudheen.