The Mumbai crime has busted a second inter-state loan scam after the Dilip Chhabria’s case. The crime branch has arrested seven people in connection and seized 19 high-end cars including Mercedes-Benz vehicles, two Audis, one MINI Cooper, Ford Endeavour and many others worth Rs 7 crore. The police did raids at various cities like Mumbai, Bengaluru, Indore and more.
Investigating officer Jagdish Sail said that gang leader Maurya was arrested earlier for similar offences in Mumbai and Thane. Dharam, who used work as a loan executive with a bank helped Maurya to clear a few loan files and was sacked. The other people arrested in the case are agents who aided Maurya to make forged documents and used to work in used car dealerships. Maurya is an ex-employee of HDFC Bank and knows all about the functioning of the department.
Those arrested were Pradeep Maurya (46), Dharambir Sharma alias Wasim Shaikh (31), Mrigesh Navidhar (42), Sainath Ganjialias Sandeep Borate (26), Dilshad Ansari (44), Vijay Verma (39) and Salam Khan (42).
The gang made forged identification documents like Aadhar Card, PAN card, bank statements and income tax returns that are required to obtain a loan. After applying for fresh loan in reputed private and nationalised branks by rentung a house where they stayed for two months. After the loan verification done by the banks, they would leave the house and move on to a new address to repeat the scam with different bank.
The gang bought cars from the dealers after the bank sanctioned the loan. Meanwhile othe gang members would identify people who are in requirement of the cars. They would then mortgage the vehicles at almost halve prce of the market rate. They used to make requests like they need money for sister’s marriage to mortgage the car quicker. The gang then would stop paying the monthly installments to the banks.
The Kurla Police registered the case on 15th January. The police have filed charges of cheating, forgery, and relevant sections of the Indian Penal Code in this case. The cops are looking for more people related to this case. The Crime Branch says that a bank employee is likely to be involved in the racket too. The bank employee may have been involved in the racket for clearing car loan and submitting false verification report for a loan. The gang was active for the last two years and police are still investigating all the cases.
There are various similar scams that gangs to make money. Many scammers also sell cars and then file a theft report to get money from the insurance. This is why verifying the documents properly before making a used car purchase is mandatory and should not be avoided at any cost. Also, while buying a used car, always get details verified by the RTO or check the online status before giving money and making the deal. While selling a car, always get a NOC and ensure that the car is transferred to the new owner by verifying the details with the RTO. Else, the car can be used for scams or crimminal activities and you can be accused for the same.