CHANDIGARH: A Zirakpur resident was booked for allegedly cheating a bank of Rs 20 lakh after taking a loan to purchase an SUV on forged sales letter and invoices.
The accused has been identified as Jatinder Pal Singh. Police said the accused had applied for loan at State Bank of India's branch in Sector 8 to buy a Toyota Fortuner SUV in 2014. He allegedly produced fake invoices and sales letter at the bank and obtained a loan of Rs 20 lakh.
The fraud came to light when the accused stopped paying his monthly loan instalments after a few months. When bank officials reached his house, they found the accused was not living there. Later, bank officials checked with the vehicle agency and found that the accused had given a booking amount of Rs 50,000 for the SUV but later cancelled the deal and took the money back. SBI bank manager Mohinder Singh Lamba then filed a written complaint at SSP public window.
After verifying the facts, Sector 19 police registered a case under Sections 420 (cheating), 467 (forgery of valuable security, will), 468 (forgery for purpose of cheating), 471 (using as genuine a forged document), 120-B (criminal conspiracy) of the IPC.
The accused has been identified as Jatinder Pal Singh. Police said the accused had applied for loan at State Bank of India's branch in Sector 8 to buy a Toyota Fortuner SUV in 2014. He allegedly produced fake invoices and sales letter at the bank and obtained a loan of Rs 20 lakh.
The fraud came to light when the accused stopped paying his monthly loan instalments after a few months. When bank officials reached his house, they found the accused was not living there. Later, bank officials checked with the vehicle agency and found that the accused had given a booking amount of Rs 50,000 for the SUV but later cancelled the deal and took the money back. SBI bank manager Mohinder Singh Lamba then filed a written complaint at SSP public window.
After verifying the facts, Sector 19 police registered a case under Sections 420 (cheating), 467 (forgery of valuable security, will), 468 (forgery for purpose of cheating), 471 (using as genuine a forged document), 120-B (criminal conspiracy) of the IPC.
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