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 securing a bank loan through forged property documents and identity fraud in a case that has been under investigation for several years. The alleged fraud involves a ₹25 lakh cash credit facility obtained from the Kaiserbagh branch of Allahabad Bank in Lucknow.

Officials said the arrests mark a major breakthrough in a long-pending economic offence case involving allegations of forgery, conspiracy, and financial deception.

Missing Property Documents at the Centre of the Case

According to investigators, the case dates back to 2018 when the original sale deed of a residential property located in Lucknow’s Vrindavan Yojana area was reportedly lost.

Authorities allege that the accused illegally used the missing property documents without the knowledge or approval of the property’s owner, Manju Devi, to obtain a cash credit loan from the bank. Investigators claim the loan amount was subsequently misappropriated and repayment obligations were ignored, causing financial losses to both the bank and the property owner.

The EOW believes the property records played a crucial role in securing the loan through fraudulent means.

High Court-Directed Probe Led to Fresh Findings

The matter initially came to light after a complaint was filed, leading to the registration of a First Information Report (FIR) in 2020 at Bachhrawan Police Station in Rae Bareli district.

The case included allegations of cheating, impersonation, forgery, and the use of fabricated documents. Following legal proceedings, the investigation was transferred to the Economic Offences Wing on the directions of the Allahabad High Court.

During the inquiry, investigators reportedly uncovered evidence suggesting that the accused acted in coordination and used forged records to deceive the lending institution. Based on these findings, authorities added charges related to criminal conspiracy.

Officials stated that available evidence prima facie indicates deliberate efforts to secure the loan through fraudulent representations.

Arrests Made Following Intelligence-Based Operation

The two accused had allegedly remained absconding for an extended period, frequently changing locations to avoid law enforcement action.

Acting on specific intelligence inputs, EOW teams launched coordinated operations in Lucknow on June 9 and successfully apprehended both suspects.

The arrested individuals have been identified as Arvind Singh and Mohammad Salim, residents of the Rajajipuram area of Lucknow. Police officials said Singh was arrested from Alambagh, while Salim was taken into custody from the Thakurganj locality.

Wider Investigation Continues

The Economic Offences Wing has indicated that the investigation remains active and that authorities are examining whether other individuals may have assisted in facilitating the alleged fraud.

Investigators are reviewing financial records, loan approval documents, and related evidence to determine the full extent of the conspiracy and identify any additional beneficiaries.

Officials emphasized that legal proceedings against the accused will continue under the applicable provisions of law. The agency also reiterated its commitment to pursuing cases involving financial fraud, forged documentation, and misuse of banking systems.

The arrests are being viewed as a significant development in the effort to combat economic offences and protect financial institutions from fraudulent lending practices.