A mother-son duo and a property dealer have been arrested on charges of committing fraud of over Rs.50 lakh in Madhya Pradesh, police said on Monday.
Chandra Pandit, a teacher who retired in 2000, and her son Kunal were wanted by police for the past four years.
They had fraudulently registered two floors of a house, and based on the fake registrations, obtained loans of Rs.5 lakh each from two banks.
On being successful, they later registered several fake properties and took more loans.
The duo roped in property dealer Rajeev Sharma, filed four fake registrations and took Rs.50 lakh as loan from several banks.
On not repaying the loan, one of the banks filed a complaint.
Police officer Omkar Singh Bhadoria told IANS that the mother-son duo fled to Mumbai, from where they were arrested on Sunday. Sharma was arrested in Indore.
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