Tag Archives: fraud

Banking, Corruption

Fictitious transaction of sale of property in Delhi: Banks and financial institutions cheated

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Newsroom24x7 Network

New Delhi: Delhi Police have registered a case of serious economic offences against few persons accused of have dishonestly and fraudulently, in conspiracy with each other and some other unknown persons have cheated multiple banks and financial institutions, including Aditya Birla Housing Finance Limited  (ABHFL),  Syndicate Bank, Canara Bank, Axis Bank, Indian Bank, and Standard Chartered Bank of crores of rupees by inducing these banks and financial institutions to sanction and disburse loan amounts against fictitious transaction of sale of property (No. 132, Third Floor, Chitra Vihar, New Delhi 110092).

The complainant in this matter, Tarun Sharma, is the authorised representative of ABHFL, having its registered office at Indian Rayon Compound, Verawal Gujarat- 362266 and its branch office in Delhi at 2nd Floor. UCO Bank Building, 5, Parliament Street.

As per the FIR registered by the Parliament Street Police Station, New Delhi on 3 May 2019, a fictitious transaction of sale of freehold built -up residential property, built on third floor with roof rights of property bearing no. 132. Chitra Vihar, New Delhi, was created by Manoj Monga, Anshu Monga and Sandeep Goswami along with other unknown persons who pretended that Manoj Monga was genuinely purchasing this Property at a sale consideration of Rs. 10 million from Sandeep Goswami and for purchase of this Property, financial assistance was required by Manoj Monga, Anshu Monga and County Apparels from ABHFL.

Taking the “fictitious transaction” for sale of the Property and the intention of Manoj Monga and Anshu Monga to mortgage it as true, ABHFL disbursed a loan to the tune of Rs. 15 million in The following manner:

  • Rs. 9.9 million, vide cheque No. 281447 dated 31 May2018 drawn on ICICI Bank Limited (Account number 071401505310), in favour of Sandeep Goswami/Seller directly on behalf of Manoj Monga, Anshu Monga and County Apparels.
  • The remaining balance amount was disbursed vide cheque No. 281446 dated 31 May 2018 drawn on Union Bank of India (4937020100072) in favour of the Manoj Monga as per the terms and conditions of the sanction letter and loan agreement dated 29 May 2018.

Thereafter, a Sale Deed for this property was executed on 4 June 2018 by Sandeep Goswami (Seller) in favour of Monga for a total sale consideration of Rs. 10 million and it was also registered with Sub-registrar. District Preet Vihar, Delhi vide registration No. 3,319 in Book No.1, Volume No. 1,308 on page 84 to 92 on 05 June 2018.

Thereafter Manoj Monga and Anshu Monga created equitable mortgage on this Property, as security for the said Loan, in favour of ABHFL by deposit of original sale deed. Initially some payments were made by Manoj Monga and Anshu Monga towards repayment of the loan to show that the transaction was a genuine transaction but later on they stopped making payments to ABHFL against loan.

Through collection activity and upon inquiry it was brought to the ABHFL’s knowledge that the said Property was also mortgaged with multiple banks and financial institutions by Manoj Monga, Anshu Monga and Sandeep Goswami along with other unknown persons by creating a fictitious transaction of sale of the said Property on the basis of which they availed loan facility from multiple Banks and Financial Institutions including Syndicate Bank, Canara Bank, Axis Bank, Indian Bank, Standard Chartered Bank thereby cheating these banks and financial institutions to the extent of millions of rupees.

It is alleged that part loan amount that was disbursed into the account of Sandeep Goswami on behalf of Manoj Monga, Anshu Monga and County Apparels as sale consideration was shared with Manoj Monga, Anshu Monga and Sandeep Goswami.

After preliminary enquiry into the complaint, the Parliament Street Police Station in Delhi has registered an FIR in this case under Section 420/468/120-B of Indian Penal Code against the accused.

Banking, Corruption

CBI arrests zonal head of Bank of Maharashtra

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Newsroom24x7 Staff

Pune: The Central Bureau of Investigation has arrested a former Zonal Head, Pune City Zone, Bank of Maharashtra, and a director of a private logistics Company, based at Surat (Gujarat) in an on-going investigation of a bank fraud case.

CBI registered a case against the Surat based private logistics firm and 10 other persons and entities, including unknown officials of Bank of Maharashtra on the allegations that during the period 2012-2014, Bank of Maharashtra had sanctioned various credit facilities to the accused private logistics company, including Working Capital limit, Term Loans & loans to 2802 drivers of said company under “Chalak Se Malak” (from driver to owner) scheme for purchase of trucks.

The alleged loss caused to Bank of Maharashtra through this credit facility was Rs.836.29 crore. It was further alleged that the loans to the drivers were sanctioned without their knowledge and by using forged documents as genuine and the company did not utilize the loan proceeds for the purpose for which they were sanctioned. These loans were allegedly processed by the arrested accused (the then Zonal Head) by ignoring various irregularities and violating existing guidelines of the Bank for the purpose of sanctioning the loan. The other arrested accused is one of the directors in the company and authorised signatory to operate the company’s account.

Search was conducted at the residence of Bank Officer in Pune which led to recovery of electronic gadgets, LIC policies, FDs, two locker keys of banks and other related documents.

There are 3 more cases registered by CBI against the same private company; its directors and others for allegedly duping a few more banks including the Oriental Bank of Commerce, Bank of Baroda and Indian Overseas Bank. These banks allegedly have been defrauded to the tune of over Rs.1566.39 crore.

Corporate, Corruption

Mallya arrested in London, released on bail

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Newsroom24x7 Network

London: Liquor baron and owner of the grounded Kingfisher Airline Vijay Mallya, who has been charged of fraud and defaulting on loans in India, was today arrested on India’s request by Scotland Yard in London.

Mallaya was arrested on an extradition warrant on behalf of India at a police station in central London. He was released on bail a few hours later at Westminster Magistrates’ Court.

What they have said

Mallaya’s appearance at the Police station was described as a “voluntary action” by a person in his leagal team.

https://twitter.com/sanjayuvacha/status/854311228956581888

India, Other States

“Black Dollar” fraud: Delhi Police arrests two Central African nationals

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Newsroom24x7 Staff

delhi policeNew Delhi: With the arrest of two Central African Nationals (from Cameroon and Congo) the North District Police here has busted a gang involved in committing what has been described as a “black dollar fraud”

The Police on Sunday, 20 March, regisetred against the accused Kamleu Nya Alain @ Glory and Mwanza Nawej Yesh @ Michaels, an FIR (No. 105/16) under sections 420 and 411 of Indian Penal Code (IPC) and section 14 of Foreigners Act, at the Civil Lines Police Station in Delhi.

On Sunday, the complainant, Aditya Bondwal had reported that he is the manufacturer of construction equipment like the JCB machine and other tractor attachments. During Indo- African Summit, had been introduced to one Rozer by a person known to him. Rozer showed interest in his business and also gave a proposal to invest one million dollars in his business. He claimed that his father Marafa Hamidou Yaya, used to be the right- hand man of President of Cameroon Paul Biya. He has been sentenced to Jail since 2012 and all his accounts have been frozen. Next time when they met, Rozer told Bondwal that he has got the entire one million dollars painted with black ink. Using this modus operandi, he could pass through customs. For cleaning the currency in dollars, a costly ink and powder is required, he told Bondwal and tookrom him  Rs. 30 lakh. After that he introduced him to the two accused Kamleu Nya Alain @ Glory and Mwanza Nawej Yesh@ Michael and said that they were experts in cleaning the black dollars. Both the accused Kamleu Nya Alain @ Glory and Mwanza Nawej Yesh @ Michael took additional Rs. 50 lakhs from him. In this way after they had taken a total of Rs. 80 lakhs from him, they started demanding more money saying the quality of ink and powder they had acquired was not up to the mark. For procuring more, they said that they still needed Rs. 42 lakhs. At this stage Bondwal realized that he had been cheated by these people. After lodging the complaint with the police, he followed a pre-decided plan and called the accused persons near Oberoi Hotel in Civil Lines for delivery of Rs. 42 lakhs. The staff of special Police team of North District apprehended both the accused who were then arrested.

Accused Kamleu Nya Alain and Mwanza Nawej Yesh were interrogated at length. They disclosed that they came to India on tourist visa. Here they came in contact withone Rozer who is also an African National. They all planned to cheat Indians through this black dollar fraud. Rozer met one O.P. Pandey during the Indo-African Summit at Greater Noida. O.P. Pandey introduced him to the complainant.

Kamleu Nya Alain @ Glory s/oSh. Nya Maurice r/o Doula, Brazzaville, Camaroon, (43 ), who was residing at 895/8, Madangiri Extn., Mehrauli, Delhi, has studied up to senior secondary. He came to India in May-2015. He has been residing in India without a valid passport and visa.

Mwanza Nawej Yesh @ Michael (42), son of Nawej Francois, resident of Kanda 2 area, Matonge City, Kin Shasa Congo , was residing at E-1100, Madangiri Extn., Mehrauli. He has done first year of a degree course. For the last three years, he has also been residing in India without a valid passport and visa.

The Police have recovered from the accused Rs. 25,000 in cash, two packets containing black papers to pass as $ one million, five packets containing black papers with photocopy of Indian rupees in the denomination of Rs. 1000, two bottles of a chemical substance used to clean the black paper and a kit used for demonstration to convert the black paper into white.