Man who got five cars financed using forged documents held | india | Hindustan Times
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Man who got five cars financed using forged documents held

The city police on Tuesday arrested one of the five persons wanted for purchasing five luxury cars after getting them financed by a bank using forged documents last year.

india Updated: Aug 10, 2011 00:06 IST
HT Correspondent

The city police on Tuesday arrested one of the five persons wanted for purchasing five luxury cars after getting them financed by a bank using forged documents last year.

The police also recovered a Maruti Suzuki SX4 car that the man had sold to a Delhi resident. The buyer was also arrested. The other four accused and the remaining vehicles are yet to be traced.

One of the accused posed as a BPO executive while another one claimed to be an employee of a garment export company.

Their three accomplices posed as businessmen and produced forged PAN cards, telephone bills, salary slips, address proofs and bank account statements. All the cheques deposited by these conmen had bounced, a police officer said.

All the five cars were bought from Competent Automobiles in Sector 34.

The dealer had shunted one of its sales executives for his alleged involvement in the crime. According to the police, Saurabh Kumar of Sector 5 had changed his name as Nitin Gupta and produced fake documents while buying a car. "It was the photograph that helped us trace the accused," said investigating officer Bijender Singh.

Officials of the Shivaji Nagar branch of State Bank of India had lodged a complaint against six persons after the post-dated cheques bounced and all their documents were found to be fake.

The bank said Sonu, a sales executive with the car dealer, brought Kapil Arora, Nitin Gupta, Prakash Sharma, Rakesh Kumar and Abhishek Sharma to the bank along with the documents required for grant of a car loan. The total loan amount sanctioned to all five accused was to the tune of Rs 27 lakh.