Four booked for cheating banks, builders of ` 51L

Four people have been booked for allegedly cheating banks of Rs51 lakh on the pretext of taking home loans.

The police said the culprits would book a flat paying a few lakh rupees. They would then apply for home loans at different banks for the same flat with bogus documents.

“T hey would al s o open accounts at different banks in the builder’s name. So finally when the loans are sanctioned, the money comes to bogus accounts opened by them and not to actual builder’s account,” said a police officer from Kharghar police station.

“The accused cheated several builders and banks in the past few years. The gang is operating at different places of Navi Mumbai as well as Mumbai,” the officer said. The police have registered a case under sections 420, 465, 467, 468, 471 and 34 of the Indian Penal Code (IPC).