Five arrested for bank loan fraud | delhi | Hindustan Times
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Five arrested for bank loan fraud

Five persons, including an engineer, were arrested in central Delhi for allegedly cheating several people of crores of rupees by promising them easy bank loans, police said on Friday.

delhi Updated: Mar 12, 2011 01:17 IST
HT Correspondent

Five persons, including an engineer, were arrested in central Delhi for allegedly cheating several people of crores of rupees by promising them easy bank loans, police said on Friday.

“The arrested have been identified as Jitesh Keshwani (the mastermind), Manish Choudhary, his brother Sandeep Choudhary, Rajesh Kumar and Rahul,” said a senior police officer. “Luxury cars, 15 national and international SIM cards, cash, fake documents and six International Casino Membership Cards were also seized from them,” the officer said.

Police said the arrests came following investigations into a complaint filed by one Lalit Kumar. “The complainant came in contact with Rahul and Jitesh, who promised him a loan and asked him to provide his photograph and some documents. The gang then took him to Allahabad Bank in east Patel Nagar, where they asked him to sign the account opening form,” said the officer.

When Kumar was about to sign the said application form, police said, he found that it was in a fictitious name. “Though he initially refused to sign, he was persuaded to do so. Later, Kumar realised he had been cheated and reported the matter,” the officer said.

“They would present applications in fictitious names for auto-loans for luxury vehicles and would also attach fabricated documents in support of the proof of ID, address, income and quotations of luxury cars. Once the loan was sanctioned, they would present fake cash receipts before the bank to get the cheque for loan amount,” the officer added.