Pune: A multi-party fraud involving bank officials, document verification agencies, and borrowers has resulted in a loss of ₹1.27 crore for Fed Bank Financial Services. The fraud, which occurred between November 2022 and May 2024, was uncovered following a detailed investigation prompted by non-payment of loan installments.

Fed Bank Financial Services official Digambar Phule filed a complaint at Shirur Police Station, naming over 30 individuals, including bank officials Pritam Gholap and Shatrunjay Satankar, Rudra Enterprises proprietor Ajinkya Rasal, valuer Sagar Lodha, freelancer Adesh Salunkhe, and numerous borrowers and co-borrowers.

Fraudulent Scheme Unveiled

The accused allegedly colluded to create and submit forged documents such as village certificates, tax receipts, and land ownership records to secure loans. Freelancer Adesh Salunkhe falsely claimed that dairy farmers in Ganegaon Dumala required loans against mortgaged properties and submitted fraudulent documentation.

Rudra Enterprises and valuer Sagar Lodha reportedly issued false verification and valuation reports without proper checks. Bank officials Satankar and Gholap were accused of visiting the site and submitting fabricated inspection reports. Legal consultant Girish Lele also allegedly failed to identify the forged documents during the legal scrutiny.

The fraud came to light when a committee of bank officials conducted on-site inspections and discovered that the properties mortgaged as collateral did not exist. Verification with the Gram Panchayat revealed that the submitted village certificate (Namuna 8) and tax receipts were forged and did not match the official records.

The police investigation found that the accused had collaborated to prepare and submit fake documents to the bank. Despite inadequate due diligence, loans were approved, and the accused collectively misappropriated ₹1.27 crore. Sub-Inspector Chavan is leading the investigation.