Two held for duping people on pretext of processing loan

The duo revealed that they used to approach people by posing as representatives of a Bengaluru-based finance company. They used to contact individuals in need of loans, using data procured through acquaintances.

Two men from Bihar were arrested in Noida’s Sector 113 on Wednesday for allegedly duping people under the pretext of facilitating loans, police said on Thursday. A case of cheating has been registered under relevant sections of the Bharatiya Nyaya Sanhita (BNS) at the Sector 113 police station.

Police said that since they were fraudulently taking a small amount from each individual, they believed the victims would not contact the police.

The accused have been identified as Fayaz Alam, 22, and Akash Kumar, 21, both natives of Chapra, Bihar. They were residing in Behlolpur, Sector 63, Noida.

“For the past few days, we were receiving information that a gang was actively duping people on the pretext of loans. Upon receiving the information, a team was formed to nab them. On Wednesday afternoon, we received a tip-off about the movement of the accused,” said a police officer, adding that acting on the tip-off, a police team laid a trap and nabbed the suspects from the Sector 113 locality.

During the investigation, the duo revealed that they used to approach people by posing as representatives of a Bengaluru-based finance company. They used to contact individuals in need of loans, using data procured through acquaintances. They would charge ₹299 as a registration fee, ₹399 for loan verification, and between ₹2,400 to ₹3,200 under the guise of GST and insurance charges,” said Krishna Gopal Sharma, Station House Officer, Sector 113.

The SHO added, “After receiving the money, they blocked the victims and targeted others. It came to light that in a day, they used to fraudulently earn between ₹70,000 to ₹1 lakh.”

Police said that since they were fraudulently taking a small amount from each individual, they believed the victims would not contact the police. “We are scanning their bank accounts to check how many transactions they have conducted so far,” added SHO Sharma.

Police recovered ₹50,000 in cash, 20 mobile phones, 128 ATM cards, 77 SIM cards, nine bank passbooks, five cheque books, seven QR codes, and a motorcycle allegedly purchased using the fraudulently obtained money.

Efforts are ongoing to trace their accomplices, identified as Aniket and Shubham Tyagi, police added.