New Delhi2 hours ago

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  • The accused cheated more than seven crores

The Economic Offenses Wing has arrested a fraudster in the case of cheating of seven crores. It was identified as Rajiv Rathi (51), a resident of Gurgaon, Haryana. The accused had taken a loan by showing the same property as mortgage in six banks.

According to the police, Ratnakar Bank Limited and Bank of Maharashtra filed a complaint in the EOW regarding the matter, stating that Rajiv Raj Rathi, associated with MS Shagun Enterprises, had approached for a home loan. In this connection, he mortgaged a property in Sector 4 Urban Estate, Gurgaon.

On this, RBL Bank approved a loan of 2.5 crores and Bank of Maharashtra 1.30 crores. Later both the banks came to know that the accused had mortgaged the same property in Allahabad Bank as well. After preliminary investigation, a case of fraud was registered in the case last year.

In the investigation of the police, it was found that the accused had opened a firm under the name of Shagun Enterprises by Rajiv Rathi. With which the Iron Tape Factory was hired in the year 2013 in the street number four Shahdara Industrial Area. The accused committed fraud of more than seven crores by mortgaging the same property in six banks.

It had also set up a firm with its associates for the purpose of taking loans for fraud. He also rented a factory so that bank officials can come and visit there. The accused absconded after getting the loan.

Eventually, with the help of technical surveillance, the police gathered information about the accused and arrested him from Gurgaon, Haryana. Now the police is investigating the role of other associates of the accused and bank officials.

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