The economic offences wing of Surat city police has apprehended four bank officials and a mobile SIM card distributor in connection with a Rs 5.75 crore land cheating case. The fraud involved the creation of fake bank accounts in the names of landowners who were residing in Canada at the time of the transaction.
Details of the Fraud
According to police, the accused opened fraudulent accounts at Yes Bank and IDBI Bank to divert funds intended for a land deal. The arrests were made during an investigation into allegations of cheating and forgery related to a land transaction in Kathor village.
Additional Commissioner of Police (Crime) Karanraj Vaghela stated, "The prime accused, land broker Ravi Koladiya, assured the complainant, Piyush Saspara, that he had the authority to sell a land parcel in Kathor village owned by Salim Ibrahim Sidat, Faridabibi, and Khatija Vora. To gain trust, Koladiya insisted that payments be made into the landowners' bank accounts. After finalizing the deal, Koladiya drafted an agreement to sell to Saspara."
Modus Operandi
Vaghela revealed that Koladiya used forged identity documents to open bank accounts in the landowners' names at the Ankleshwar branch of Yes Bank and the Ghod Dod Road branch of IDBI Bank, which he controlled. Police have arrested Sandip Piludariya, Azad Pathan, and Shivani Patel, employees of the Yes Bank Ankleshwar branch, for allegedly assisting Koladiya in opening three accounts. Investigators confirmed that Rs 4.81 crore from the purported land sale was deposited into these accounts. Koladiya allegedly withdrew Rs 2.8 crore from the Yes Bank accounts and also received Rs 94 lakh in cash from Saspara.
While Koladiya passed on some money to the landowners, police stated that the entire amount was not transferred. Additionally, Koladiya is accused of opening two more bogus accounts at an IDBI Bank branch with the help of the fourth arrested banker, Yagnik Vaghasiya, and transferring Rs 2.95 crore into those accounts.
Consequences and Further Arrests
Despite the payments, no sale deed was executed in favor of Saspara, and Koladiya subsequently went missing, police said. Since the bank accounts required linked mobile numbers, Koladiya allegedly obtained SIM cards from Vodafone-Idea distributor Sanjay Dhandhukiya, who has also been arrested in the case. The investigation continues as authorities work to recover the defrauded amount.
