Couple nabbed for Rs 22 cr fraud after 4 years on the run

The Economic Offences Wing (EOW) of New Delhi has apprehended a con artist couple, who had been on the run for the past four years, in connection with a major financial fraud case amounting to Rs 22 crore.

The accused, identified as Vikas Shandilya, alias Vikas Sharma, and his wife M Sharma, were nabbed in Goa, following a meticulous investigation that unveiled their intricate modus operandi. The case revolves around a fraudulent scheme that targeted a non-banking financial company (NBFC), resulting in a colossal financial loss.

Accused Vikas Shandilya, along with his accomplices, allegedly fabricated property papers and partnered with Nilanjan Majumdar, a sales manager, to channel fraudulent loan applications to the NBFC. The couple’s company, M/s Sewaa Apparels, applied for a loan against a property worth Rs 5 crore, securing a loan of Rs. 4.11 crore in 2017. The loan was obtained against a property in Roop Nagar in the capital.

However, the investigation revealed a trail of deceit. Ownership documents and borrower details were discovered to be forged and manipulated. The complainant NBFC suffered significant losses due to this complex web of cheating and fraud.

The masterminds behind the scheme, Vikas Shandilya and M Sharma went to

great lengths to evade law enforcement, frequently changing their locations and identities.

Employing innovative tactics, inspired by a recent web series, the police managed to locate the couple by ordering food online from local eateries, which exposed a clandestine food delivery business run by the duo in Goa.

The accused, Vikas Shandilya and M Sharma, who had been living under aliases in North Goa, were finally apprehended from their

residence after a relentless 10-day pursuit. The couple has been remanded into police custody, and the investigation is ongoing.