Noida: A gang that allegedly defrauded banks and private lenders of nearly Rs.1 billion last year by forging documents to obtain personal loans was arrested by Noida police with the arrest of two men.
The defendants were identified as Roshan Kumar and Virendra Kumar, both residents of Delhi. The two were arrested on Monday night from sector 1, the Noida police said on Tuesday. However, five of her accomplices are on the run.
Police took action after they recently received a complaint from Bajaj Finserv that someone had obtained a Rs 15 lakh personal loan “using forged documents” in June this year.
“After the complaint, several teams were formed and the procedure examined. It has been found that in recent months some banks and private lenders have also been defrauded in the same way, â€said Deputy Commissioner (Noida) Ranvijay Singh.
“The defendant had moved to avoid arrest. However, five other members of the gang, including the mastermind, are on the run, â€he added.
During interrogation, those arrested told police that they would produce fake documents such as PAN and Aadhaar cards in order to obtain loans from banks and private financial companies. In the past year they are said to have taken out loans from at least eight banks and private lenders on forged documents.
“It has also come to light that the gang had registered a front company with the Union Department of Corporate Affairs and planned to take out billions of dollars in loans resulting in fake IT returns valued at Rs 1 billion,” added the additional assistant commissioner (Noida) added.
Police claimed they had confiscated five laptops, a color printer, counterfeit stamps from various companies, 40 counterfeit Aadhar cards, 26 counterfeit PAN cards, 16 counterfeit voter ID cards, 22 check books, eight cell phones, 41 SIM cards, and three POS machines two USB sticks from the defendant’s possession.
The defendants were identified as Roshan Kumar and Virendra Kumar, both residents of Delhi. The two were arrested on Monday night from sector 1, the Noida police said on Tuesday. However, five of her accomplices are on the run.
Police took action after they recently received a complaint from Bajaj Finserv that someone had obtained a Rs 15 lakh personal loan “using forged documents” in June this year.
“After the complaint, several teams were formed and the procedure examined. It has been found that in recent months some banks and private lenders have also been defrauded in the same way, â€said Deputy Commissioner (Noida) Ranvijay Singh.
“The defendant had moved to avoid arrest. However, five other members of the gang, including the mastermind, are on the run, â€he added.
During interrogation, those arrested told police that they would produce fake documents such as PAN and Aadhaar cards in order to obtain loans from banks and private financial companies. In the past year they are said to have taken out loans from at least eight banks and private lenders on forged documents.
“It has also come to light that the gang had registered a front company with the Union Department of Corporate Affairs and planned to take out billions of dollars in loans resulting in fake IT returns valued at Rs 1 billion,” added the additional assistant commissioner (Noida) added.
Police claimed they had confiscated five laptops, a color printer, counterfeit stamps from various companies, 40 counterfeit Aadhar cards, 26 counterfeit PAN cards, 16 counterfeit voter ID cards, 22 check books, eight cell phones, 41 SIM cards, and three POS machines two USB sticks from the defendant’s possession.
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