Thane: A builder was arrested for allegedly duping a private co-operative bank to the tune of Rs 7 crore. The builder from Dombivli, identified as Jagdish Wagh, cheated the bank by mortgaging a property which had already been under mortgage with another bank.
The Ramanagar police has registered a case of cheating against Wagh. The complaint against the builder was filed by a legal officer working for CKP Co-operative Bank at Dombivli.
Senior inspector SP Ahir said Wagh had mortgaged an open plot and two flats and obtained a loan of Rs 7 crore from the bank in 2012. When he failed to pay the instalments, officials from the bank went to seal the properties.
