Man Caught for Committing Bank Fraud at Arunachal Pradesh 

STAFF REPORTER

GUWAHATI: An FIR was lodged at BIEO by Union Bank of India, Chandmari Regional Office against one Milan Saikia of Survey Beltola for fraud and cheating committed against the Bank.

Based upon the complaint, a preliminary inquiry was instituted and a case was registered vide BIEO PS Case no 13/19 u/s 120b/406/420 IPC against the accused. During investigation, it was revealed that Milan Saikia had indulged in fraudulent activities and cheated public in the name of selling flats/apartments. He sold off a flat at Luis Regency in Hatigaon to a lady at the rate of nearly Rs 80 lakh, which was actually under mortgage with the Union Bank.

Saikia had availed a loan of 50 lakh from the Bank against the equitable mortgage of the said flat and without paying off the loan, he sold off the flat to the victim lady. In this way, he not only cheated the bank but also the lady who had unsuspectingly purchased the flat from him. Investigation so far also reveals that the accused Milan Saikia is presently also constructing many flats under the name M/S MS Associates and has collected money from public. He was caught from Arunachal Pradesh on Wednesday and has been produced before the Court and brought on three days police remand. Further investigation is on to ascertain more details and identification of more such victims cheated by him.

Also read: BIEO arrested two fraudsters duping many in Guwahati

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