A gang of five, including two managers of a finance company, was arrested for allegedly availing loans by depositing fake gold biscuits, crime branch officers said on Monday.
Dheeraj Sachdeva (25), Matloob Saifi (29), Sandeep Verma (36), Daljeet Singh (33) and Charanjeet (56) were identified as the men behind the racket and had successfully availed at least R2 crore in cash from different banks and financial firms against valuables made of fake gold.
"The arrests came following investigations into a complaint filed by an official of Muthoot Financiers early this month. The complaint stated that three customers had deposited fake gold with them to avail cash for loans," additional DCP Sanjay Bhatia said.
Police said while Sachdeva is a sales manager with Muthoot Fincorp Ltd., Saifi worked as a manager at the company's Karol Bagh branch.
Investigators also claimed to have recovered dyes used to make fake gold biscuits and coins from Singh, who is a goldsmith, and Charanjeet, who is a professional dye-maker.
Police said they had received a tip-off about this gang. After initial investigations, a trap was laid and the members of the gang were arrested from near DDA Sports Complex in Dwarka Sector 11.
Police claimed the gang confessed to having taken seven substantial loans from different branches of the two targeted branches.
"A loan of approximately R18 lakh was taken from Muthoot Fin Corp's Najafgarh branch, R40 lakh from the Daryaganj branch and R51 lakh from the Karol Bagh branch," the officer said.
Similarly, R4 lakh was taken from the Patel Nagar branch, R11 lakh from Dwarka, Rs 3 lakh from Najafgarh and R9 lakh from the Bhajan Pura branch of India Info Line Bank had allegedly been claimed by the gang against fake gold.