Archive · 14 Jan 2026
ICICI Bank Fraud: ₹2.72 Crore Home Loan Scam
Some people tricked ICICI Bank into giving them home loans by showing fake job and salary papers.
They took loans worth ₹2.72 crore to buy flats in Thane and Dombivli.
The bank found out when these people didn't pay back the loans.
One person who took a loan has passed away, and the others can't be found.
The bank took back the flats and reported the fraud to the police.
The police are now investigating how this happened and who was involved.
ICICI Bank was defrauded of ₹2.72 crore through forged home loan documents and fabricated employment records.
Five borrowers and a developer from the Versatile Valley project in Dombivli East are accused in the case.
Loans worth ₹2.79 crore were sanctioned between January 2020 and November 2022, with one borrower repaying ₹65 lakh while the others defaulted.
The investigation revealed fake employment details, circular money trails, and the involvement of the developer in creating false booking transactions.
ICICI Bank has taken possession of the mortgaged flats and filed a police complaint for cheating and forgery.
- Who
- ICICI Bank, 5 borrowers (Sandeep Yadav, Baika Bagadi, Dipak Pawar, Rekha Jadhav, Aman Sharma), and a developer from Versatile Valley project in Dombivli East
- What
- A home loan fraud involving forged documents and fabricated employment records
- When
- Loans sanctioned between January 13, 2020, and November 29, 2022; case registered on January 14, 2024
- Where
- Mumbai, specifically involving properties in Thane and Dombivli
- Why
- To obtain home loans fraudulently by presenting false employment and income details
- Bank
- ICICI Bank
- Amount Fraud
- ₹2.72 crore
- Accused
- 5 borrowers and 1 developer
- Loan Period
- January 2020 - November 2022
- Properties Involved
- Flats in Thane and Dombivli
- Charges Filed
- Cheating, forgery, and common intention (IPC Sections 420, 465, 467, 468, 471, 34)