A gang of fraudsters, allegedly duping people on the pretext of group loans, was busted with the arrested of two members in Ludhiana on Monday.
As per the police, the accused have duped several persons to the tune of ₹3 crore on the promise of helping them avail loans from various banks.
The accused have been identified as Ankit Kumar Kashyap of Model Town and Sunil Chopra of Janta Nagar. Police have recovered ₹1.5 lakh cash, 20 mobile phones and 33 debit cards from their possession. The accused had also deposited ₹8 lakh in their bank accounts, which police have seized.
Deputy commissioner of police (DCP, investigation) Varinder Singh Brar said that after receiving complaints from several residents, an inquiry was marked to the cyber cell of Ludhiana police commissionerate.
The DCP added that the accused used to upload vacancies on social networking sites. After recruiting employees, they used to post advertisements on social networking sites about group loans on lucrative interest rates. When people contacted them for a loan, they used to convince them to invite more people and apply for group loans.
“The accused used to take money from them on the pretext of processing fees. Later, they would disconnect their phones and also close the office and start operations from a new location,” the DCP added.
{{/usCountry}}“The accused used to take money from them on the pretext of processing fees. Later, they would disconnect their phones and also close the office and start operations from a new location,” the DCP added.
{{/usCountry}}A case under Sections 420 (cheating and dishonestly inducing delivery of property) and 120-B (criminal conspiracy) of the Indian Penal Code and Section 66 of Information and Technology Act has been registered at Haibowal police station. Police said more arrests are likely in the case.