Big Home Loan Fraud in PNB, Builder sold same Flat to multiple People

In a significant development, the Central Bureau of Investigation (CBI) has arrested an individual named Harsh Sharma on July 4, 2025, in connection with an eight year old housing loan fraud case that dates back to August 2, 2017. Harsh Sharma had been absconding for eight years and had not joined the investigation since the case was first registered. His arrest marks an important step forward in a long-running investigation.

According to the CBI, Harsh Sharma was involved in a criminal conspiracy with the builder company, Shree Balaji Hitech Construction Pvt. Ltd. He provided his personal documents, such as KYC details, which were then misused to create fake home loan applications. The builder falsely showed him as a buyer of a flat that didn’t actually change hands. The same flat was sold on paper to multiple fake buyers to trick Punjab National Bank into disbursing loans. This fraudulent activity allowed the builder to obtain large sums of money illegally from the bank, using false paperwork and bogus transactions.

The CBI had already filed a charge sheet in the Special CBI Court in Ghaziabad on March 19, 2024, detailing the role of the accused. Because Harsh Sharma was on the run and not cooperating with the investigation, the court had issued a non-bailable warrant against him. After making continuous efforts to trace his whereabouts, the CBI team finally arrested him on the morning of July 4, 2025.

Following his arrest, Harsh Sharma was presented before the Special Judicial Magistrate (CBI) in Ghaziabad. The court has now ordered that he be sent to judicial custody until July 15, 2025. Meanwhile, the CBI has stated that the investigation into the case is still ongoing, and more findings may come to light as it progresses.

More details will be released soon.