The Borivali police registered a cheating crime and forgery soon after a 77-year-old trader from Borivali alleged his son has cheated him and obtained a loan of Rs 2.5 crore in his name by forging his signatures. When the alleged loan was procured, the elderly businessman was not in the town, stated police.

According to the police, the fraud came to light in September this year when Hastimal Jain visited his three shops in a purchasing mall in Borivali and discovered them closed. When he inquired with his son Pramod, 52, the son stated he is not getting capable to spend upkeep as a purpose for the electric provides of the shops had been disconnected.

When asked additional, Pramod claimed that he suffered losses in the enterprise and also told that he had taken loan on the stated house worth Rs 2.5 crore. When Hastimal checked with the bank papers, he was shocked to study the loan was allegedly procured in Hastimal’s name by allegedly forging his signature. As per the police statement, the stated loan was procured in the final week of August 2019. However, at that time, Hastimal had gone to Rajasthan to attend a religious ceremony and returned only in September.

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