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Four arrested for bank fraud

delhi Updated: May 03, 2013 00:47 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Four men were arrested for allegedly getting close to five dozen credit cards issued in the names of non-existent airline employees, the Economic Offences Wing said on Thursday.

The gang, identified as Mayank Jain, 28, Roshan Das, 27, Kuldeep Srivastava, 23 and Ashok Ganwani, 35, had successfully managed to get hold of as many as 57 Citibank credit cards on the basis of fake salary slips and identity cards purportedly issued by Air India, said KK Vyas, DCP (EOW).

“Jain and Das’ fathers used to work for Air India and the duo were familiar with the working of the airline and also acquainted with the system of ID cards and salary slips. Both used to work as agents for insurance policies and bank loans but were unable to meet their expenses due to lavish lifestyles,” said DCP Vyas.

According to the EOW, their arrests followed investigations into a complaint made by the said bank stating that 57 credit cards, issued by them between January and April 2012, were seen being used to make dubious transactions.Verification of the documents submitted along with application forms revealed that the salary slips and ID cards purportedly issued by Air India were used to get these credit cards issued.

“Investigation at Air India revealed that no such employees worked there - meaning that the documents used were fake. A close scrutiny of these transactions revealed that these cards were used at selected places with surveillance indicating that these cards were mostly used at a mobile vendor in Laxmi Nagar,” DCP Vyas said.

The owner of the shop, Ganwani, was questioned and led investigators to Jain, who then emerged as the mastermind of the scam. He told the police that he used to swipe these fraudulently obtained cards on the condition of his own commission and had earned around R 18 lakh in the process.

“Citibank has suffered a loss to the tune of R40 lakh at the hands of the gang. Further investigation is in progress,” DCP Vyas added.