Loan Fraud in Mumbai: Man Dupes Bank of Rs 60 Lakh After Availing Loan Using Forged Documents and Someone Else's LIC Policy, Booked
In June this year, the bank received a mail from LIC which asked the firm to investigate Naik's LIC policy. After a thorough investigation, the bank officials learned that Naik's policy was forged and the actual owner was a person named Vishnu Gupta.
Mumbai, August 19: The Mumbai police recently booked a man for allegedly duping a bank of Rs 60 lakh after he took a loan from them using forged documents. Police officials said the accused cheated the bank after he forged documents and used someone else's insurance policy to take a Rs 60 lakh loan. The incident came to light after the police received a complaint from SVS Bank, Mahakali Caves, Andheri East.
In their complaint, the bank said that the accused, identified as Tulsiram Naik, approached them for a loan against a Life Insurance Corporation (LIC) policy in November 2022. The accused, a resident of Goregaon, furnished several documents for the loans, which a third party verified, reports the Hindustan Times. Cops also said that the LIC policy issued in 2009 was reportedly valued at Rs 90 lakh and had a surrender value of Rs 74.5 lakh. Mumbai Fraud Case: Fraudsters Dupe Wadala Wine Shop Owner of Rs 10 Lakh on Promise of 5% Commission in Exchange of Rs 2000 Currency Notes.
The complaint also mentioned the expiry date of the policy as July 2024. An officer said that Naik borrowed Rs 63 lakh from the bank. The bank manager also said that while verifying his documents, the accused had introduced the bank official to another person known as Kumar. The third person helped the ban to confirm Naik's policy details at LIC's Mulund office.
After all the formalities, the ball sanctioned a loan of Rs 60 lakh to Naik in November 2022. In June this year, the bank received a mail from LIC which asked the firm to investigate Naik's LIC policy. After a thorough investigation, the bank officials learned that Naik's policy was forged and the actual owner was a person named Vishnu Gupta. Mumbai: Man Held for Fraudulently Selling Cars Hired on Rent.
"The mail also revealed that the policy number had been used to avail 12 loans from different financial institutions." a police officer said. Acting on the bank manager's complaint and the email transcripts, the police booked Naik and his associate Kumar. The duo have been booked under various sections of the Indian Penal Code, including forgery and cheating.
(The above story first appeared on LatestLY on Aug 19, 2023 03:46 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).