EOW Arrests Two in Lucknow After Years of Evasion in Loan Scam

The Uttar Pradesh Economic Offences Wing (EOW) has arrested two individuals accused of orchestrating a ₹25 lakh bank loan fraud by allegedly using forged property documents and false identity claims. The arrests come after years of investigation and repeated efforts to trace the suspects, who had reportedly been evading law enforcement.

Officials said the case involves a fraudulent cash credit loan obtained from the Kaiserbagh branch of Allahabad Bank, resulting in financial losses for both the lending institution and the property’s rightful owner.

Property Documents Allegedly Misused for Loan

According to investigators, the case originated from the disappearance of the original sale deed of a residential property located in Lucknow’s Vrindavan Yojana area. The property belongs to Manju Devi, whose documents were allegedly used without authorization.

Authorities claim the accused exploited the missing paperwork to secure a cash credit facility worth ₹25 lakh from the bank. After the loan was sanctioned, the funds were allegedly diverted, and repayment obligations were not fulfilled.

The investigation suggests that the transaction was carried out without the knowledge or consent of the property owner.

High Court Intervention Led to EOW Probe

Following a complaint regarding the alleged fraud, a criminal case was registered in 2020 at Bachhrawan Police Station in Rae Bareli district. The FIR included charges related to cheating, impersonation, forgery, and the use of forged documents.

Subsequently, the matter was transferred to the Economic Offences Wing following directions from the Allahabad High Court.

During the course of the investigation, EOW officials reportedly uncovered evidence indicating that the accused acted in coordination to obtain the loan through fabricated documents and misleading representations. Based on these findings, investigators added criminal conspiracy charges to the case.

Arrests Made After Extensive Search Operation

Officials stated that both accused had remained out of reach for an extended period and frequently changed locations to avoid arrest.

Acting on intelligence inputs, EOW teams launched a coordinated operation on June 9 and arrested the suspects from separate locations in Lucknow.

The accused have been identified as Arvind Singh, a resident of Rajajipuram, and Mohammad Salim, who also resides in the same locality. Authorities said Singh was apprehended in the Alambagh area, while Salim was arrested from Thakurganj.

Investigation May Expand Further

The Economic Offences Wing has indicated that the investigation remains ongoing. Officials are examining whether additional individuals assisted in facilitating the alleged fraudulent loan transaction or played a role in preparing forged documents.

Investigators are also reviewing financial records and related documentation to determine the complete chain of events surrounding the loan approval process.

The arrests represent a significant breakthrough in a long-pending economic offence case involving allegations of forgery, impersonation, and misuse of property records to obtain bank financing unlawfully.

Authorities have reaffirmed their commitment to pursuing financial fraud cases and ensuring accountability for those involved in banking and document-related offences.