Abhishek Jaiswal faces scrutiny in massive loan scam

Economic offences wing interrogate for 7 hours

Chhatrapati Sambhajinagar: Abhishek Jagdish Jaiswal (39, Nutan Colony), a prominent BJP office bearer, district bank director, and liquor businessman, was arrested on Friday in a bogus loan case of Rs 9 crore for land in Sillekhana. On Saturday, he was thoroughly interrogated for 7 hours by the economic offences wing, focusing on loan approvals and property mortgage processes.

Investigators are particularly interested in how Jaiswal managed to obtain a loan using bogus land purchase documents. The loan, sought from Malkapur Bank, was based on fabricated documents claiming ownership of 2395.94 sq mts of land supposedly belonging to Sheikh Parvez Ahmed. Jaiswal's wife Shweta (36) and brother Ambarish (41) acted as guarantors for the loan.

Jaiswal's loan delinquency extends beyond this case. He has a total of six loans from Malkapur Bank, with one overdue loan of Rs 12 crore flagged as early as March 3, 2022. The bank initiated a possession notice due to non-payment. These loans are linked to properties in Gulmandi, Sillekhana, and Shahnoorwadi areas. Senior inspector Sambhaji Pawar, API Mosin Syed, and investigating the case under the guidance of assistant commissioner of police Dhananjay Patil.

Magnitude of the scam is far greater

The magnitude of the scam is likely to be far greater. Sources suggest the involvement of bank officials and registrar's office personnel in multiple loan cases linked to Jaiswal, potentially amounting to a fraud of at least Rs 15 crore. The police are now probing the extent of this conspiracy and identifying the involved officials. This development has sent shockwaves through the bank and registrar's office, with many employees reportedly seeking legal counsel.

Key questions remain unanswered:

-How did Jaiswal manage to register fake purchase deeds and mortgages despite the land belonging to someone else?

-Why did land search reports and assessments fail to detect the discrepancies?

-Were there any lapses in the bank's loan approval process, particularly regarding guarantors and collateral verification?