UP STF arrests five for loan fraud

Five members of a gang were arrested by the Special Task Force for allegedly duping various banks by taking loans using fake documents on account of bogus companies floated by them, police said on Thursday.

Five members of a gang were arrested by the Special Task Force for allegedly duping various banks by taking loans using fake documents on account of bogus companies floated by them, police said on Thursday.

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The accused, identified as Mohsin Khan, Tanuj Sharma, Rajesh Sharma, Danish Chibbar, and Ravi Kant Mishra were arrested on Wednesday from Noida and Greater Noida by the Special Task Force of Uttar Pradesh police, a police spokesperson said.

Six vehicles and a many PAN cards, debit cards, cheque books and driving licences were seized, spokesperson added.

The accused told the STF that they used to float bogus companies and took loan and auto loan from different banks on the basis of their statements.

The vehicles taken on auto loan were later sold to other customers.