New Delhi: A 24-year-old man has been arrested for allegedly being part of a Punjab-based loan fraud racket that changed Aadhaar-linked mobile numbers and used stolen identity documents to get loans in the names of unsuspecting people, police said on Sunday.
Police said the syndicate cheated at least 50 people over the past three to four months and obtained loan worth nearly ₹1.6 crore from different private non-banking financial company (NBFC). Investigators suspect more people may have been targeted and are trying to identify remaining members of the gang.
The accused, a resident of Mohali in Punjab, was arrested by the Cyber Police Station in Rohini on Fridayafter an investigation into a complaint filed by a Delhi resident who began receiving calls from a loan recovery agent for EMIs on a loan he had never taken.
Police said the matter came to light on June 25 when the man approached them. After he checked his CIBIL report, he found that a personal loan of ₹4.5 lakh had been sanctioned in his name using his PAN details. He also discovered that the mobile number linked to his Aadhaar had been changed, allowing the fraudsters to complete the loan application process.
DCP (Rohini) Shashank Jaiswal said the investigation revealed that the loan amount had been transferred to a bank account operated by the accused, who later withdrew the money in cash. “Analysis of the accused’s mobile phone showed that the complainant’s personal details had been exchanged with his associates before the fraud, confirming his role in the conspiracy,” the DCP said.
{{/usCountry}}DCP (Rohini) Shashank Jaiswal said the investigation revealed that the loan amount had been transferred to a bank account operated by the accused, who later withdrew the money in cash. “Analysis of the accused’s mobile phone showed that the complainant’s personal details had been exchanged with his associates before the fraud, confirming his role in the conspiracy,” the DCP said.
{{/usCountry}}Police recovered ID cards used in the fraud. During interrogation, Kumar allegedly told that he came in contact with members of a Punjab-based cyber gang specialised in obtaining loans using documents of unsuspecting people. The gangfirst changed mobile numbers linked to the victim’s Aadhaar card and then used their Aadhaar and PAN details to apply for loans through various private finance companies and NBFCs.
“The loan amount was transferred to bank accounts of people who allowed to use their accounts in exchange of commission,” the DCP added.
Investigators are now tracing other members of the syndicate, identifying mule bank accounts and checking whether more victims in other states were targeted using the same method.
Senior police officers said as of now, 50 such victims have been found based on Kumar’s account details and interrogation.
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