The Jayanagar police arrested five persons belonging to a family and their friend for allegedly duping 22 different banks of ₹10 crore. The police said that the accused created fake property documents for a single property and borrowed loans from the banks pledging it.
The accused have been identified as Nagesh Bharadhwaj, Suma (wife of Bharadhwaj), Veda (Bharadhwaj’s sister), Sheshagiri (Veda’s husband), Satish (Bharadwaj’s brother), and Bharadwaj’s friend Veda.
The police said the accused went to different banks with a set of fake documents to borrow money. The banks lent money thinking the documents were genuine. However, when the accused did not pay back the debt, the banks upon investigation found that the documents were fake and they were defrauded. The accused have been sent to judicial custody.
