Santosh Paudel, a permanent resident of Hetauda Munciapality-11 and currently living in Pokhara-9, produced fake land ownership documents to take loans amounting to millions of rupees from banks and financial institutions. Police arrested Paudel from Lekhnath Municipality on Tuesday while he was fleeing from Pokhara.[break]
Kaski Police informed the concerned BFIs about Paudel´s fraudulent activities after preliminary investigation into the case. Police have also arrested Paudel´s close aide Kamalman Guvaju, who used to help Paudel by purchasing the land pledged as collateral.
Superintendent of Police (SP) Yadav Raj Khanal said Paudel has swindled over Rs 70 million from nine BFIs.
Investigations show that Paudel started fraudulent activities only seven months ago. He used to pledge land plots in Pokhara-2, 4, 6 and 9, Lekhnath Municpality-5 and Rupakot VDC-1 as collaterals in different BFIs by taking clearance from concerned Land Revenue Office by producing fake papers.
Sources say Paudel swindled Rs 3.5 million from Everest Bank, Rs 9.3 million from Muktinath Development Bank, Rs 8.6 million from Butwal Finance, Rs 16.9 million from Fewa Finance and Rs 1 million from Garima Development Bank.
Paudel´s fraudulent activities came to light while he was trying to secure loans from other financial institution by pledging the same plots as collaterals. “When an official questioned whether or not the documents were genuine, Paudel left the office premises stating that he would bring necessary documents. But he didn´t return,” a source at the Land Revenue Office said.
Later, officials found that all the documents presented by Paudel were fake and called the police instantly. Police are preparing to file forgery and financial fraud cases against Paudel.
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