Usha Rani Sethi, a 55-year-old widow from Vivek Vihar, East Delhi, has reportedly become the victim of a sophisticated identity and loan fraud scheme amounting to ₹18 crore. Police allege that a tenant, who rented two of her flats, used forged documents and an impersonator to obtain multiple loans in her name.
How the Elaborate Scheme Unfolded
The case dates back to June 2012, when Ms. Sethi sought tenants for her newly purchased flats. She was approached by two men, Sachin and Sanjay, who claimed to be businessmen in urgent need of accommodation. Sachin identified himself as the owner of Jagdamba Metals, a metal trading company.
Ms. Sethi rented one flat to Sachin for ₹47,000 and another to Sanjay for ₹17,000. Rental deeds were duly registered. However, police investigation later revealed that Sachin allegedly never intended to reside in the property. According to officers, his primary motive was to secure a registered rent agreement to gain access to Ms. Sethi's property details, which he could then exploit for loans, mortgages, and overdrafts.
Discovery of the Massive Fraud
The alleged fraud came to light in April 2013 when two Supreme Court advocates visited Ms. Sethi's home, informing her that she had defaulted on a ₹70 lakh loan taken against her flats from Punjab and Sind Bank. Shocked by the claim, Ms. Sethi immediately contacted the police.
Subsequent investigations uncovered that loans totaling ₹18 crore had been obtained using forged documents bearing her name. Police revealed that these loans were taken in the names of various companies for business purposes, with the money subsequently routed through 11 shell companies before being withdrawn.
Forged Documents and Impersonation
Upon reviewing the fraudulent documents, Ms. Sethi discovered a PAN card bearing her name but with a different photograph and forged signatures. Further inquiry at the Sub-Registrar's office revealed that a woman impersonating Ms. Sethi had visited the office in February of an unspecified year, submitting the necessary documents.
Investigators found that the accused had sourced the PAN card of another individual named Usha Rani Sethi from Odisha, who had no connection to the complainant. They then hired another woman to impersonate the victim at the Sub-Registrar's office, effectively bypassing the document verification mechanisms.
Police stated that the investigation also indicated Ms. Sethi's property had allegedly been transferred to Sachin, while he and his brother-in-law, Sanjeev Dixit, secured the ₹18 crore loans in the name of Jagdamba Metals. The accused reportedly leveraged forged identity documents and the legitimate tenancy agreement to access Ms. Sethi's property records, facilitating the extensive fraud.
Investigation Progress and Arrests
After the initial investigation stalled, the Economic Offences Wing (EOW) of Delhi Police reopened the case. A dedicated team, led by Additional CP Ravi Kumar and SI Rahul, meticulously reviewed the documents and uncovered that Sanjeev Dixit had been using multiple aliases.
Dixit has a history of involvement in criminal cases, including a CBI cheating case in 2011 and ten other cases under the Prevention of Corruption Act. He was arrested by Uttar Pradesh Police in 2017 but managed to escape while being escorted to court. After nearly a decade in hiding, Dixit was re-arrested by the CBI in January 2026 and lodged in Tihar Jail. On June 25, 2026, Delhi Police arrested him again in connection with this specific fraud case. The search for his brother-in-law, Sachin, is still ongoing, while the involvement of the other tenant, Sanjay, remains unconfirmed by the police.