An imposter has redeemed mutual funds worth Rs 60.79 lakh by creating a fake bank account in the name of Avon Cycle’s owner Onkar Singh Pahwa.
The fictitious bank account was created in Kotak Mahindra Bank, Pitampura branch, New Delhi. On a complaint of Pahwa, a case under Section 420, 467, 468, 471 and 120B of the IPC has been registered against unknown persons at the Division 6 police station.
Pahwa said he had invested in L&T and SBI Mutual Funds. Someone prepared a fake driving license in his name and opened the account in the Kotak bank. The imposter even changed the phone number, email address, mailing address and even signature of the industrialist while opening the fictitious account.
During the period between May 29 and July 2, the imposter had surrendered and redeemed the shareholding into the fake account and then also withdrew cash.
Pahwa alleged that he had also intimated the SBI Mutual Fund branch when he recently received a letter informing him about the change of signature and address, etc, and he had immediately replied to the SBI that he had not applied for any such change.
The industrialist said the imposter redeemed L&T mutual funds worth Rs 49.83 lakh and SBI mutual funds worth Rs 10.96 lakh.
After registering a case, the police sent the probe report to the District Attorney (DA) Legal for opinion. The DA termed it a clear case of fraud, following which the Police Commissioner ordered registration of the FIR.
The police said they were trying to identify the accused.