Woman arrested for cheating bank through fraudulent mortgages

New Delhi, July 30 (UNI) The Delhi Police have arrested a woman for cheating a nationalised bank and individuals to the tune of crores of rupees through fraudulent mortgages.

Neena Gulati, a beauty and fitness instructor running a slimming and beauty clinic, was arrested following complaints by the Branch manager of the Central Bank of India that the accused, after obtaining a huge loan of over Rs 40 lakh against hypothecation of laser skin treatment machinery, disposed of the equipment fraudulently without informing the bank. Besides, the guarantor also disposed off his property which was kept as guarantee with the bank.

In another case of fraud, Neena cheated her partner K S Tomar by misappropriating his share and fraudulently hypothecated the machinery, the ownership of which vested with Mr Tomar, for a loan of Rs 70 lakh which she used for her personal use.

During interrogation. Neena admitted that the misappropriated money was spent on a lavish lifestyle. machines worth Rs 70 lakh have been recovered from the accused.

UNI