Bizman, 2 builders held for cheating bank
The builders were arrested from Bangalore and Nerul respectively
Apr 28, 2015
Source : The Times of India


NAVI MUMBAI: A 36-year-old businessman, Navin Kunjar, was arrested along with two builders from Nerul, Bhaskar Dayer and Ramkrishna Shetty, on Saturday for allegedly cheating a bank of Rs 3.25 crore. 

Kunjar, cops said, took a housing loan from State Bank of Hyderabad in 2010. He reportedly opened the account in the name of a fictitious company along with the two builders. They asked the bank for multiple loans for the employees. The bank, a police officer said, did not verify the documents and sanctioned the loans. "The trio played a long con and deposited about Rs 20,000 in the name of these fictitious employees so the bank did not suspect a thing," said an officer. 

When the loans were defaulted on, the bank tried to repossess the property and realized that the names of the people living in those apartments did not match the documents. The officials then knew that they had been conned. 

The bank manager approached the cops and Kunjar and the builders were arrested from Bangalore and Nerul respectively. 

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