A housing finance firm and a private bank have been booked for allegedly facilitating a ₹42.50 lakh loan fraud in Pune, where a buyer cheated a real estate developer by taking multiple loans against a property.
Real Estate FraudLoan FraudHousing FinancePrivate BankPuneReal Estate PuneJun 27, 2024
The amount of loan fraud was ₹42.50 lakh.
The accused was Nikhil Kisan Dange, a 32-year-old resident of Saili Society, Baner.
The housing finance firm and private bank were allegedly facilitating the loan fraud by not adhering to standard practices of loan sanction.
The accused cheated the real estate developer by taking multiple loans against a property and siphoning off the amount.
Due diligence is crucial in preventing loan frauds as it helps in verifying the credentials of borrowers and ensuring that loans are sanctioned only after thorough verification of documents and creditworthiness.
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