Management graduate arrested for defrauding bank of Rs 2 cr

A management graduate allegedly duped a bank in Mumbai of Rs 2 crore on the basis of a fake beneficiary certificate of Maharashtra Security Guard Board following which he was arrested by Crime Branch from Akash Vihar in west Delhi, police said today.
Shailesh Harender Sinha alias Pawan Saxena (43) was in hiding at Akash Vihar in Bakkarwala from where he was arrested by a team of Crime Branch on being approached by Mumbai police, said Ravindra Yadav, Joint Commissioner of Police (Crime Branch).
Shailesh and his associates Amit Patel and Samir Kapadia had opened an account in the name of 'Proven Traders Pvt Ltd' at Corporation Bank, Gokhle Road, Dadar in Mumbai, where provident fund collections of Security Guard Board, Maharashtra, were deposited.

Later, they allegedly forged a beneficiary certificate issued by Security Guard Board, Maharashtra, in favour of 'Proven Traders Pvt Ltd' at the bank and got a loan of Rs 2 crore sanctioned using the fake document, he said.
A case was registered in this regard at Dadar police station and the accused were absconding. Shailesh is also wanted in similar case in which Union Bank of India was duped of Rs 3 crore, registered at Panvel City police station in Mumbai, he said.
Shailesh completed his MBA in finance from a Patna college in 2003 and later worked as an assistant sales manager. However, in 2006 he left job and tried his hand in a plastic business which failed after which he started working as a broker of bank loans.

In 2013, he was arrested in connection with a cheating case involving State Bank of Mysore worth Rs 30 lakh and Bhandari Cooperative Bank to the tune of Rs 6 lakh, he added.