31-year-old fashion designer held for running loan racket
A 31-year-old fashion designer from Malad was arrested on Wednesday for cheating people under the pretext of providing them easy loans at minimum interest rates.mumbai Updated: Dec 09, 2011 01:30 IST
A 31-year-old fashion designer from Malad was arrested on Wednesday for cheating people under the pretext of providing them easy loans at minimum interest rates.
According to the Churchgate railway police, Pinky Kailash Vora gave advertisements in English language newspapers, offering loans to those who have been denied loans by banks after defaulting on payments.
Vora would call the victims to restaurants in malls, where she would promise them a loan of Rs1 lakh in return for a commission of Rs 5,000. Once Vora received her commission, she would provide a negligible part of the promised loan in cash and would issue a cheque for the remaining amount, which would eventually bounce.
The railway police suspect that Pinky has cheated at least 100 people since August by using this modus operandi.
Vora’s racket was busted after one of the victims, Johnson Amenna, approached the Churchgate railway police. Vora had allegedly charged Amenna Rs10,000 for a loan of Rs2 lakh. When the cheque provided to him bounced, he approached the railway police.
The police went through Vora’s phone records to check if she was operating independently or was part of a gang. They then laid a trap and arrested Vora from Inorbit Mall in Malad (West) on Wednesday.
“Vora had completed a course in fashion designing but wasn’t doing well professionally. Hence, she resorted to cheating people. She has been arrested for cheating and is in police custody,” said Medha Kadam, senior inspector from the Churchgate railway police.
Kadam said that Vora used the money to lead a lavish lifestyle. She lived in a rented apartment in Malad for which she paid Rs20,000 a month. She had also purchased clothes and jewellery worth Rs5 lakh using a credit card but defaulted on the payments.