The Economic Offences Wing (EOW) of Surat city police has arrested four bank officials along with a mobile SIM card distributor in connection with an alleged ₹5.75 crore land fraud case involving fake bank accounts opened in the names of landowners living in Canada.
According to investigators, the accused allegedly created bogus accounts in IDBI Bank and Yes Bank to divert money received through a land transaction linked to a property in Kathor village. The arrests were made during a probe into suspected cheating, forgery, and financial fraud.
Additional Commissioner of Police (Crime) Karanraj Vaghela said the main accused, land broker Ravi Koladiya, allegedly convinced complainant Piyush Saspara that he was authorised to sell land owned by Salim Ibrahim Sidat, Faridabibi, and Khatija Vora.To gain Saspara’s confidence, Koladiya reportedly insisted that the payment be deposited directly into the landowners’ bank accounts, following which an agreement to sell was executed.
Police said forged identity documents were allegedly used to open fake bank accounts in the names of the landowners at Yes Bank’s Ankleshwar branch and IDBI Bank’s Ghod Dod Road branch.
Investigators claim the accounts were controlled by Koladiya.Three Yes Bank employees — Sandip Piludariya, Azad Pathan, and Shivani Patel — were arrested for allegedly helping open the fraudulent accounts.
Police said nearly ₹4.81 crore from the land deal was deposited into these accounts.Koladiya allegedly withdrew ₹2.8 crore from the Yes Bank accounts and also collected ₹94 lakh in cash from Saspara. While a portion of the money was reportedly transferred to the actual landowners, police said the full amount was never handed over.
Investigators further alleged that Koladiya, with the assistance of arrested IDBI Bank official Yagnik Vaghasiya, opened two additional fake accounts through which another ₹2.95 crore was routed.Despite the payments, no sale deed was executed in Saspara’s favour, after which Koladiya allegedly absconded.
Police also arrested Vodafone-Idea SIM card distributor Sanjay Dhandhukiya, alleging that he provided mobile SIM cards used to link the fake bank accounts opened for the fraud.