Mumbai Crime: Fixed deposit scam - Police shifts focus to supplier of fake stamps

Mumbai: Andheri police, who are probing the fake fixed deposit (FD) stamps racket that attempted to cheat a leading bank of Rs 50 crore, suspect one of the accused people, Mohammad Shaikh, a Mira Road resident, is part of a bigger syndicate. Primary investigation revealed that Shaikh provided custom-made stamps of any government organisation by order, which could be easily passed off as originals. Police are identifying the customers Shaikh has catered to ascertain how many fake government documents are in circulation.

Earlier this week, Andheri police had arrested seven people, including a relationship manager of a leading private bank’s Bhayandar branch for allegedly forging an Andhra Pradesh-based businessman’s fixed deposit receipts to take a loan. The probe led them to Shaikh, who operated from Mira Road and provided fake stamps to the accused.

Police said Shaikh has been running the fake stamps racket for many years now and the number of documents released on the basis of the forged stamps could be massive. “We are making a detailed report on the activities carried out by Shaikh and possibly more arrests are likely to be made in the case,” said Ankit Goyal, Deputy Commissioner of Police (Zone 10).

On Monday, five people had approached Vishal Talkies branch of ICICI Bank and produced FD slips to the bank and apply for a loan of Rs 50 crore. Since the request was for a big amount, it was taken to the manager, who found discrepancies in the slips.

After running a verification test, it was revealed that the FDs belonged to an Andhra Pradesh resident, who had no clue of any such slips given to procure a loan.

The manager found it amiss and informed Andheri Police immediately. A police team reached the spot and immediately made the arrests.

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