Cuttack: Lalbagh Police here unearthed a high profile fraud Saturday and arrested three persons who produced fake land documents to obtain huge loan from a bank but did not repay the money.
Identified as the mastermind of the fraud, Satya Shankar Satapathy alias Bapi had borrowed Rs 60 lakh as loan from a bank in 2019 by producing land record of rights (RoR) and other property papers and did not bother to repay the loan. On suspicion, the bank authorities referred the matter to the police and got the documents verified as a result of which the scam was exposed.
On investigation, it was found that the documents submitted in the bank did not either belong to the accused or the land owner who allegedly sold the land to the accused. Ultimately, it turned out that all the documents submitted in the bank were fake. Subsequently, the bank officials filed an FIR with Lalbagh station two years after the fraud.
Satya Shankar was arrested by the police during the course of investigation.
According to Cuttack Deputy Commissioner of Police Prateek Singh, two accomplices helped Satya Shankar in preparing counterfeit documents to obtain loans from various banks in Cuttack. The three also managed to sell lands on the basis of fake documents and gain crores of rupees from gullible investors. Satya Shankar was also arrested earlier for cheating banks by producing fake papers in the name of his father. His accomplices who have been arrested are Kshetramohan Tripathy and Rajkishore Swain.
“We have also seized fake voter cards, Aadhar cards, land patta, stamp papers and a vehicle from the accused. We suspect the complicity of others in the racket,” Singh told newsmen.
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