EOW of Delhi Police arrests man on run for 9 years in `18 cr bank fraud
The Economic Offences Wing (EOW) of the Delhi Police arrested a proclaimed offender who had evaded arrest for 9 years. He allegedly masterminded a property and bank fraud, using forged documents, impersonation and shell companies to cheat multiple banks of more than `18 crore.
The accused, identified as Sanjeev Dixit (53) alias Sanjay Sharma, was arrested on June 25 while lodged in Tihar Jail in connection with another criminal case. He had been absconding since 2017 after escaping from Uttar Pradesh Police, and a court subsequently declared him a proclaimed offender.
According to the EOW, the case dates back to 2013 when complainant Usha Rani Sethi alleged that Dixit and his associates fraudulently transferred ownership of her property in Vivek Vihar by executing a forged sale deed without her knowledge. Investigators said the accused first gained access to the property by placing his associates as tenants, which enabled them to gather details about the property’s ownership.
They allegedly procured the PAN details of another woman who shares the complainant’s name. They arranged for a female impersonator to appear before the Sub-Registrar’s office as the property’s owner. Using the forged sale deed, the accused mortgaged the property to obtain loans and credit facilities from multiple banks.
Police said the fraud involved credit facilities exceeding `18 crore, including `10 crore sanctioned by Chinatrust Commercial Bank, as well as cash credit limits and vehicle loans from other financial institutions. Most of the loan accounts later turned into non-performing assets (NPAs).
Investigators further alleged that the accused routed the loan proceeds through a network of shell companies and fictitious bank accounts to conceal the money trail before siphoning off the funds through cash withdrawals and personal expenses. The EOW said sustained technical surveillance, repeated searches and local enquiries eventually revealed that Dixit was lodged in Tihar Jail.
Additional Commissioner of Police (EOW) Ravi Kumar Singh said the accused is a habitual economic offender with 12 criminal cases registered against him by various investigating agencies, including the CBI and Delhi Police, involving cheating, forgery, criminal conspiracy and corruption. Police have advised property owners to periodically verify their property records for any unauthorised transactions and urged banks to conduct stringent verification of ownership documents and borrowers before sanctioning loans.
