A special Central Bureau of Investigation (CBI) court in Ahmedabad has delivered a significant verdict, sentencing three individuals to rigorous imprisonment for their involvement in a sophisticated bank fraud case. The court found the accused guilty of orchestrating a scheme to illegally obtain a housing loan using falsified documents.
The Verdict and Punishment
The convicted individuals have been identified as Bal Mukund Dubey, Dharmesh Dhairya, and Alpesh Thakkar. The court handed down a sentence of three years of imprisonment to each of them. In addition to the jail term, the judge imposed a financial penalty, ordering each convict to pay a fine of Rs 50,000.
Details of the Bank Fraud Scheme
The roots of this case go back to a housing loan sanctioned in 2004. According to the CBI's case details, the agency registered a First Information Report (FIR) in December 2009 against one Jayesh Prajapati and certain officials of Vijaya Bank.
The prosecution alleged that Prajapati conspired with the bank officials to secure the loan by submitting false and forged documents related to his employment status and flat ownership. Based on these fabricated salary details and papers, he managed to obtain a loan amounting to Rs 4.78 lakh.
Modus Operandi and Investigation Findings
The CBI's extensive probe uncovered the critical roles played by Dubey, Dhairya, and Thakkar. Investigations revealed that the trio facilitated the fraud by opening a fictitious bank account. This account was used as a conduit to siphon off the loan funds, effectively cheating the bank.
Over time, with unpaid instalments and accumulating interest, the outstanding amount in the loan account ballooned to approximately Rs 7.85 lakh, causing substantial financial loss to the bank.
While the primary accused, Jayesh Prajapati, remains absconding, the trial proceeded against the three other accused. The CBI, in a media statement, confirmed that the court convicted them for charges including criminal conspiracy, cheating, and forgery. This verdict underscores the judiciary's firm stance against financial crimes and the misuse of the banking system through fraudulent means.
