Builder held for Rs 30 crore bank fraud escapes, caught at airport

This picture has been used for representational purposes

A builder who had been arrested for allegedly duping a bank of Rs 30 crore was caught at Mumbai airport on Sunday after he escaped from police custody earlier in the day, a Thane police officer said.

Jagdish Wagh, 37, from Dombivli in the district is accused of duping CKP Bank to the tune of Rs 30 crore after defaulting on loans taken on two flats and a plot of land, and then selling them fraudulently without the knowledge of the bank, the police officer said.

"Wagh, who was arrested on November 18, was being taken to hospital when he managed to escape on Monday morning. We launched a manhunt for him and after a few hours, finally located him at the domestic terminal of the Mumbai airport," said Senior Inspector SP Aaher of Dombivli police station.

"He had taken a loan in 2012 from CKP Bank after keeping two flats and a plot of land as mortgage. However, he defaulted on the loan after a while after which the bank filed a police case in February this year. "When the bank moved to seal the flats and plot, it realised that he had sold them on forged documents. The fraud may be worth R30 crore," Aaher said.

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates