The Housing Loan Scam Unveiled: 16-Year Fraud Case Convicts Three in Ahmedabad

Three individuals were sentenced to three years in prison for fraudulently obtaining a Rs 4.78 lakh housing loan using forged documents. The court also fined them Rs 50,000 each. The main accused, Jayesh Prajapati, remains absconding. The scam resulted in a wrongful loss of Rs 7,85,109 to Vijaya Bank.

In a significant verdict, a special CBI court in Ahmedabad has sentenced three individuals to three years in prison for their involvement in a longstanding housing loan fraud case. The case, which dates back over two decades, involved the illegal acquisition of a Rs 4.78 lakh loan using forged documents.

The convicted individuals, Balmukund Mithailal Dubey, Dharmesh Dhairya, and Alpesh Ashwinbhai Thakkar, were also fined Rs 50,000 each. However, the principal accused, Jayesh Prajapati, has managed to evade arrest and remains at large.

The Central Bureau of Investigation exposed an elaborate scheme where the accused conspired with unidentified Vijaya Bank officials to deceive the bank, leading to a loss of Rs 7,85,109. A chargesheet against the offenders was filed by the CBI in December 2010, highlighting the gravity of the financial malfeasance.

(With inputs from agencies.)