2 held in fake loan racket | delhi | Hindustan Times
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2 held in fake loan racket

The police have arrested three unemployed youths for allegedly cheating at least 35 customers all over the country on the pretext of getting their loans sanctioned from various banks.

delhi Updated: Mar 28, 2011 23:19 IST
HT Correspondent

The police have arrested three unemployed youths for allegedly cheating at least 35 customers all over the country on the pretext of getting their loans sanctioned from various banks.

“The arrested trio has been identified as Rajat Kataria, 27, Shankar Lal Chawla, 23 and Kewal Krishna, 24, all hailing from Fatehabad in Haryana. They were apprehended from near Kingsway Camp following investigations into a complaint filed by a woman from Vadodra last Thursday,” said Ashok Chand, deputy commissioner of police (crime).

One gang member, identified as Girish Wadhwa, is absconding. While Kataria, a former call centre employee, and Chawla are graduates, Krishna has studied up to Class 10.

“They made the complainant deposit Rs 1.5 lakh in seven accounts after telling her that she had been sanctioned a Rs 5-lakh loan. She approached us when they stopped taking her calls,” said a senior police officer.

The trio began their operations two years ago. They used to run a tea shop in Fatehabad then and had once managed to dupe two of their customers in a similar manner.

“They later published advertisements in eight vernacular newspapers. Their customers were people who wanted loans for marriages, education, business and personal loans,” the officer said. Loans sanctioned from State Bank of India, Punjab National Bank, HSBC Bank and Axis Bank among others were on their fraud list.

“They would direct their customers to deposit the said amount in bank accounts opened under fake identities. They duped more than 35 people from Gujarat, Rajasthan, UP and Maharastra,” Chand added.