Four arrested for 'payment of loan' fraud | delhi | Hindustan Times
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Four arrested for 'payment of loan' fraud

The Delhi Police have arrested four persons for cheating people on the pretext of settling their default payment of loans.

delhi Updated: Jan 11, 2012 23:29 IST
HT Correspondent

The Delhi Police have arrested four persons for cheating people on the pretext of settling their default payment of loans.

The arrested have been identified as Vishal Pawar (31), Ajit (26), Subhash Sharma (25), and Kamal Kumar (28).

The arrests came following investigations into several complaints regarding cheating of bank customers on the pretext of settling their default payment of loans by an organised gang of fraudsters who posed as authorised agents of Royal Bank of Scotland (RBS).

"The gang used to procure the details of loan and installments of bank customers from Subhash, who works in Incredible Management Services (IMS) for the last three years. Then, they would approach the selected customers to settle their default payments of loan or payment of installments," Chhaya Sharma, DCP (South) said.

IMS is associated with RBS for collection of installments of personal loans availed by its customers. "Subhash used to provide this information to his associates Pawar and Ajit. Ajit used to get fake receipts printed from a shop in Daryaganj. Both Pawar and Ajit were earlier employed by IMS but had left their jobs around six months back," Sharma further said.

The accused had exposure to banking practices because of their work experience with a collection management agency and used it to convince the customers that they were giving their hard-earned money to safe hands. So far, six such incidents have come into notice related to the RBS, involving lakhs of rupees.