Four arrested in forgery case

The Ellisbridge police arrested four people allegedly involved in a forgery case of Rs 18 crore,in the early hours of Saturday. Alpesh Vyas and Alkesh Rawal from Ahmedabad,Mayur Patel from Mehsana,and Jayant Thakkar from Jamnagar,had reportedly forged a demand draft of Rs 182 and converted it into a Rs 18 crore instrument. They had allegedly used Dena Bank’s Bhandup Branch in Mumbai for the fraud. Inspector H M Kundaliya said: “They had planned to make money through a trick,whereby they made a DD of Rs 182 from Dena Bank,converted it into a Rs 18 crore instrument and deposited the same in Bank of India’s Pune branch on May 19. When Bank of India crosschecked the transaction with Dena Bank,the fraud was detected.”

He added that the fraudsters had planned to withdraw the money on Saturday from Bank of India’s Vasna branch,where they had opened an account in the name of Shivsahyadri Infrastructure Ltd. J B Gadhvi,who arrested the accused,said: “Nearly seven people are involved in this fraud. The accused revealed their names during interrogation and more arrests will follow. The plan was made in Mumbai and executed here with the help of a local forger and these four accused. They had used a special chemical to erase the amount and convert it to the desirable figure. Every person had a fixed return from the fraud.