Married couple arrested for carrying out fraud property deals

A married couple has been arrested for allegedly cheating people by selling them properties already mortgaged to banks, police said today.
The accused Mahipal Singh (40) and his wife Ruchi Kumar (33), carrying a reward of Rs 20,000 each on their arrest, had cheated people to the tune of Rs 4 crore, police said.
"Up on receiving information that the couple would come to Model Town area, a trap was laid and they were apprehended," said Additional Commissioner of Police (Crime) Ashok Chand.
The couple first mortgaged the properties to the banks and took loan against these properties. They then sold it to unsuspecting buyers without informing the buyers that the said properties had been mortgaged with the bank.

The cheats had been declared proclaimed offenders by the court and a reward of Rs 20,000 each was declared for their arrest, he said.
The duo revealed to police during interrogation that it was one of their associates who purchased properties and then obtained loans against these properties from banks after mortgaging them.
"The gain of husband and wife duo was two fold, the money obtained from the bank after mortgaging the property and the money obtained from the buyers after selling them the property. All the properties are located in the area of Paschim Vihar," said Chand.