New Delhi, March 3 -- The Economic Offences Wing (EOW) of Delhi Police has arrested a 50-year-old businessman for allegedly defrauding a financial company of Rs.5.05 crore using forged documents.
The accused, Mukesh Arora, director of a private firm, posed as a property dealer and secured the loan, police said.
"An investigation revealed that five flats within the property were sold to another bank in 2005," said deputy commissioner of police (EOW) Amrutha Guguloth.
After securing the loan, Arora allegedly defaulted on EMI payments and used Rs.1.7 crore for personal expenses. He was also involved in tax evasion, police added.HTC
Published by HT Digital Content Services with permission from Hindustan Times....