The Great Mortgage Scam: Unraveling a Web of Deceit

The Delhi Police's Economic Offences Wing has arrested the main accused in a mortgage fraud case involving repeated mortgaging of the same property to secure loans. Manish and his wife Anita used fake documents to cheat banks of crores before evading accountability. Anita was arrested earlier, and Manish was recently apprehended.

The Economic Offences Wing (EOW) of Delhi Police has made a breakthrough arrest in a high-profile mortgage fraud case. The prime suspect allegedly deceived multiple banks by mortgaging the same property several times, EOW officials revealed on Thursday.

The fraudulent activities trace back to November 2019 when Manish and his wife Anita, directors of a private company, secured an overdraft of Rs 3 crore from a Rajouri Garden bank. They claimed the collateral—a third-floor Dwarka property—was unencumbered, leading to the loan's approval.

However, a subsequent investigation uncovered that the property had been previously mortgaged for Rs 2.7 crore. Forged sale deeds and faked signatures surfaced, triggering a police investigation. With Anita already in custody since April, Manish's arrest on April 28 marks another step in resolving this elaborate scam.

(With inputs from agencies.)