CBI arrests absconding accused in 8-year-old housing loan fraud case

New Delhi [India], July 5 (ANI): The Central Bureau of Investigation (CBI) on Friday arrested an absconding accused, Harsh Sharma, in connection with a housing loan fraud case registered in 2017, according to an official statement.
According to the agency, the case dates back to August 2, 2017, and involves fraudulent housing loans issued in connivance with a private builder, M/s Shree Balaji Hitech Construction Pvt. Ltd.
"Harsh Sharma had remained absconding since the registration of the case and had not joined the investigation despite repeated notices. Today, i.e., July 4, 2025, he was arrested after executing a Non-Bailable Warrant issued by the Hon'ble Court," the CBI said in a statement.
The investigation revealed that Harsh Sharma had entered into a criminal conspiracy with the builder and provided fraudulent KYC documents, on the basis of which Punjab National Bank was induced to disburse housing loans, the CBI said.
Sharma was one of the bogus buyers of a flat that was allegedly sold on paper to multiple fake buyers in order to fraudulently secure bank loans, it said.
The CBI had filed a chargesheet in the case before the Special Judicial Magistrate (CBI), Ghaziabad, on March 19, 2024.
Following his arrest, Sharma was produced before the Court, which has remanded him to judicial custody till July 15. Further investigations into the matter are still underway. (ANI)