A major home loan fraud involving a loss of Rs 2.72 crore to a private bank has surfaced in Mumbai, in which multiple housing loans were allegedly obtained using forged employment records, fake salary credits, and falsified documents, police said. The loan amounts ranged from R27.84 lakh to R71.65 lakh, linked to flats in Thane and Dombivli, which have since been taken into possession, said police.

According to the complaint filed with the Ghatkopar’s Pantnagar police, between January 13, 2020, and November 29, 2022, home loans worth R2,72,14,726 were sanctioned in the names four people identified as Bayaja Pandurang Bagadi, Dipak Tanaji Pawar, Rekha Vijay Jadhav (since deceased), and Aman Chandranath Sharma. The loans were approved on the basis of documents falsely showing them as salaried staff of private firms.