16 years on, CBI court sentences three to three-year jail term in bank loan fraud case

Ahmedabad, Dec 31 (PTI) Three individuals were convicted and sentenced to three years' imprisonment by a special CBI court in Ahmedabad in a 16-year-old case related to fraudulently obtaining a Rs 4.78 lakh housing loan through forged documents more than 21 years ago.

The court imposed a Rs 50,000 fine each on Balmukund Mithailal Dubey, Dharmesh Dhairya, and Alpesh Ashwinbhai Thakkar in a case registered on December 15, 2009.

The main accused, Jayesh Prajapati, was never arrested and remained absconding.

The Central Bureau of Investigation (CBI) had registered a case against Jayesh Prajapati, who had been absconding, and unknown officers of Vijaya Bank in the housing loan fraud case, according to a release issued by the central agency.

"The accused (Prajapati) conspired with unknown Vijaya Bank officers/officials to obtain a housing loan in March 2004, based on false and forged details related to his salary and employment. He submitted false and forged documents related to a flat in Jalvihar Society, and obtained a housing loan of Rs.4,78,000," it said.

The investigation established that Prajapati, Thakkar, Dubey, and Dhariya had created false and forged documents to obtain the bank loan and opened a fictitious account to siphon off the funds to cheat Vijaya Bank.

The bank suffered a wrongful loss of Rs 7,85,109, including the non-paid instalments and interest, the CBI stated.

A chargesheet was filed against the accused on December 31, 2010. PTI KA NSK