The Shivaji Park police have arrested a 40-year-old man for attempting to secure loan by using forged letter of credit. The accused,Sunil Gaidhankar,approached the Abhyudaya Co-operative Bank in Dadar last week to secure a loan of Rs five crore and submitted the letter of credit claiming to be issued by a branch of State Bank of India in Allahabad.
Last Friday,Gaidhankar visited our Dadar branch and submitted a letter of credit for a loan of Rs five crore. The letter bore the SBI logo,the name of the Murtiganj branch and some phone numbers on it. He was at ease when we told him that the letter would have to be verified from the branch that issued it. He said he would visit us after a few days. We doubted the authenticity of the letter from the beginning, said Abyhudaya Banks Special officer,foreign exchange department,Ravindra Kamath who is also the complainant in the case.
According to the bank officials,Gaidhankar had opened an account with the Vashi branch of Abhyudaya in August last year. However,he didnt carry out many transactions and deposited money occasionally. The account has been frozen, said Kamath.
Kamath said that they had called the number printed on the letter to verify the source and someone claiming to be a SBI branch manager answered the call and said that the letter was genuine. However,the Abhyudaya officials were not convinced and approached the Dadar branch of SBI to verify it where they discovered that the letter was forged. The officials immediately informed the Shivaji Nagar police.
Gaidhankar visited us again on Tuesday and asked if the transactions were done. He wanted to transfer Rs three crore in the accounts of four people and wanted to withdraw the rest. We told him to wait while we process his request. Meanwhile the police officials in plain clothes arrived at the spot and arrested him. He had no clue that his fraud has been discovered, said Kamath.
Police Sub-Inspector Deepak Pawar who is investigating the case said that Gaidhankar has been booked for forgery and cheating. He claimed to own a company called Om Info Systems in Belapur and said that he needed the money for some scheme. During interrogation,he said that he did not forge the letter and that it was given to him by someone else. We suspect there may be an accomplice, said Pawar.