Man arrested for duping banks in Goa, Karnataka by obtaining car loans fradulently

A 32-year-old man has been arrested from Bengaluru for allegedly cheating several banks in Goa by forging quotations of car showrooms and obtaining loans, police said here on Thursday.

Deelip Rajegowda, the accused, was arrested by Karnataka police and handed over to the Goa authorities on Wednesday, said Superintendent of Police (North Goa) Nidhin Valsan.

The branch manager of a bank at Porvorim in Goa had lodged a complaint in July 2022 that a man obtained a loan of Rs 8 lakh by producing a fake quotation from a car showroom.

He also provided a fake insurance copy showing hypothecation to the bank while a woman accomplice stood guarantor for the loan, the complaint said.

Police found that Rajegowda, who hails from Dharwad in Karnataka, had cheated nine branches of five banks in Goa and Karnataka in this way, the SP said.

He had obtained papers for forgery from two insurance firms where he had worked earlier, the official said.

Rajegowda allegedly duped the banks of a total of Rs 75 lakh, Valsan said, adding that the banks in Goa were cheated of Rs 16 lakh. He was produced before a local court which granted Goa police his custody for four days, the SP said, adding that further probe was on.