Pune: Four booked for cheating BVG Developers of Rs 7 crore

Pimpri: Four persons have been booked for cheating BVG Developers of Rs 7 crore. Fake documents were made to withdraw Rs 10 crore from the loan account of BVG Developers.

One of the accused repaid Rs 3.20 crore. However, the remaining amount of over Rs 6.94 crore was not repaid and cheated BVG Developers. The incident took place from October 25, 2019 to January 18, 2024 at State Bank of India’s Industrial Finance branch in Vallabh Nagar.

Bibhishan Vyankatrao Gaikwad (53), a resident of Pradhikaran, Nigdi, lodged a complaint at the Bhosari Police Station.

An offence has been registered under sections 420, 409, 467, 468, 471, 34 of the IPC against SBI Relationship Manager Shahbaz Zafar Syed Mohmand Zafar, a resident of Gahunje, builder Vijay Arvind Raikar (46), a resident of Sinhagad Road, builder Gaurav Sunil Somani (35), a resident of Bibwewadi, and Mahesh Bhagwanrao Nalavde.

According to the police, accused Shahbaz Jafar, who works as the Relationship Manager at SBI, Vallabh Nagar branch, and builder Vijay Raikar conspired, along with Somani and Nalavde, and prepared a fake request letter of BVG Developers. They forged signatures on the letter of the complainant and partner-brother Balasaheb Gaikwad.

On the basis of the fake letter, they withdrew a total of over Rs 10.14 crore from the loan account of BVG Developers from time to time without the firm’s consent and transferred it to various accounts.

Moreover, the accused also prepared a fake statement of the loan account and handed it over to the complainant with an intention to cheat them. Meanwhile, the complainant realised the fraud and demanded his money back from the accused. The accused promised to pay back his money. However, only Vijay Raikar returned Rs 3.20 crore. The other accused did not return the remaining over Rs 6.94 crore and cheated BVG Developers, stated the complaint.

The Bhosari Police are investigating further.