Bengaluru : Six people, five of whom are from the same family, have been arrested for borrowing Rs 10 crore from 22 banks using fake documents as collateral.Police said that the fraudsters — Nagesh Bharadwaj and his woma Suma, Sheshagiri and his woman Shobha, Suma’s brother Sathish and their friend Vedha — are all resisent of Bengaluru. They said the suspects, all in their 50s, created several fake documents of a 2,100 sqft area in Begur between 2014 and 2015. They used the documents to cheat 22 banks. A case had been registered on December 12, 2022. In his complaint, themanager of a cooperative bank Jayanagar 3rd Block said that Bharadwaj and Suma espoused Rs1.30 crore furnishing documents for the constuctuion on the site. He said they didn't repay the loan.
On March 16, investigators arrested Bharadwaj and learnt about the involvement of the others while questioning him. They arrested the others and learnt that they had changed check and point figures, altered the plot’s square bases area, created a deed using the fake documents and registered it with thesub-registrar’s office. They handed the documents to 22 banks, some of them nationalised and cooperatives, and entered a loan of Rs 10 crore." The banks came apprehensive of the fraud when the loans were defaulted and the documents were examined," an investigator said. “ We're also examining if anyone inside the bank was involved in the crime." All six were transferred to judicial custody, the police said.
