VALUER ARRESTED FOR CHEATING A BANK FOR 53 LAKHS
A CASE STUDY
A woman in her sixties who was empanelled as a gold valuer by a cooperative bank in Malad has been arrested in a case of cheating based on a complaint filed by the bank.
Police said the accused, Ms ABC, had verified that the gold jewellery pledged by six loan applicants, in separate instances, was authentic and based on her certification, the bank had granted them loans. Later, though, most of the jewellery turned out to be fake and the bank was cheated of Rs 53 lakh. The six applicants have also been booked, but are still to be arrested. “Ms ABC has been booked in two other cases at different police stations,” said senior inspector of police.
Ms ABC was empanelled with the Malad-based bank in December 2020. According to the FIR, the six applicants made a total of nine loan applications to the bank between April 2021 and November 2021. They pledged their jewellery with the bank which was verified by Ms ABC. After her certification, their loans were approved. But the applicants did not fully repay the loans. The bank then declared these loans as non-performing assets.
It was decided by the bank to re-evaluate the jewellery pledged by the applicants, as part of the process for loan recovery. Ms ABC and all six applicants were asked to remain present on December 21, 2022, for the re-evaluation of the jewellery by two independent jewellers. But none of them turned up.
The bank then went ahead with the re-evaluation process. It was discovered that only three pieces of jewellery-a gold chain pledged by a male applicant and a bracelet and chain pledged by a female applicant-were authentic. The rest of the ornaments were fake.
The bank dashed a letter to Ms ABC but it came back as she had reportedly moved out of her Mira-Bhayander residence. Letters were sent to all the applicants but in vain. The bank manager then approached the Malad police station and an FIR was registered on January 6. Bhatt was traced and arrested earlier this week
Two of the applicants booked in this case are under arrest in another con where they had similarly pledged gold jewellery with a bank and availed a loan of Rs 14.7 lakh. Later, when they failed to repay the loan and the bank re-evaluated their jewellery, its worth turned out to be lower (Rs 10.9 lakh). The female value in that case too has been arrested.
