The Ex- MD of the crisis-torn PMC bank Joy Thomas used his alter name Junaid Khan to allegedly purchase nine flats and a commercial gala in Kondhwa and other parts in Pune.
The economic Offenses Wing of Mumbai police were successful in digging out the links which Joy Thomas used to purchase the properties using his changed name of Junaid Khan an alias which he used to marry his once office secretary and now his second wife. Most of these assets – co-owned by the couple – were bought after 2012. Investigators say Joy Thomas had camouflaged HDIL’s 44 bad loan accounts, which had turned into Non-Performing Assets (NPA), with nearly 21,000 fictitious accounts.
Thomas has four properties in Mumbai and Thane including one in the name of his son from the first wife, who had filed for divorce. Joy Thomas along with Rakesh Wadhwan, Sarang Wadhwan and former chairman of the bank Waryam Singh are all in police custody till October 17.
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