Bank of Maharashtra Fraud: Customer submitted fake property documents for Loan

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In a case of loan fraud in Jabalpur, fraudsters managed to secure a loan of Rs 20 lakh by submitting fake documents to the Bank of Maharashtra. The individuals involved, Rosie Dhimole and Lalit Kumar Soni, then disappeared, leaving the bank to uncover the fraudulent activity.

The bank manager, Vaibhav Kale, conducted an investigation into the loan in 2019, only to discover that all the documents provided by Rosie and Lalit were forged and fake. It was revealed that no garment shop, named Avatar Garment, had been opened as claimed by the loan applicants.

Upon discovering the fraud, the then manager of Bank of Maharashtra filed a complaint with the Jabalpur Economic Investigation Bureau (EOW), leading to the registration of a fraud case and the initiation of an investigation.

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According to the EOW SP R.D. Bhardwaj, Rosie Dhimole and Lalit Soni not only obtained the loan through fake documents but also used a property worth Rs 36 lakh as collateral, which was later found to be fake as well. As a result, an FIR has been lodged against both individuals, and an investigation into the loan fraud case is currently underway. However, Rosie and Lalit are currently absconding, and efforts are being made to locate and arrest them.

This case highlights the importance of thorough verification processes and due diligence in financial institutions to prevent fraud and protect the interests of banks and customers alike.

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1 COMMENT

  1. When go through from the matter one main point comes in mind that documents of property have not been entered in CERSAI portal.
    second, pre and post sanction has not been done while processing the loan appraisal.
    third, due diligence is not used at the time of sanction of the loan.
    fourth, investigation must be done from every angle,
    1.that whether loan has been sanctioned under pressure of any seniors or due to vested interest of BM himself.

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