Thane builder held for defrauding bank dies in Mumbai hospital

A builder in Thane in Maharashtra arrested for allegedly defrauding a bank to the tune of several crore rupees died on Monday morning while undergoing treatment in hospital after gangrene-related amputation, police said. Jagdish Wagh (47) is accused of duping CKP Bank of Rs 30 crore after defaulting on loans taken on two flats and a plot of land, and then selling them fraudulently without the knowledge of the bank, police said.

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Thane builder dies

He was arrested by Dombivali police on November 18, and had escaped from custody on November 23, before being held from the Mumbai Airport a few hours later on the same day.

"Wagh had gangrene and had undergone amputation last week. He died in JJ Hospital in Mumbai at 10:30am due to health complications," Senior Inspector SP Aaher of Dombivali police station said.

A case was also registered against him on December 21 for allegedly cheating a footwear shop owner of Rs 21 lakh in a flat sale, police said.

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