Millennium Post
Delhi

3 held for cheating banks after taking car loans

Three persons have been arrested for allegedly cheating more than 15 nationalised banks of Rs 2 crore after taking car loans based on forged documents, police said on Thursday.

The three accused are part of a gang of 8-10 members, police claimed. With the arrests, police claimed to have solved around 20 cases registered in various parts of the city. The accused would rent house in upscale localities that are usually given positive ratings for disbursal of loan by banks, said Ravindra Yadav, Joint Commissioner of Police (Crime). "They would rent houses or flats preferably in which owners did not reside. Using the address, they would procure PAN card, voter card, Aadhaar card and open bank accounts.

Then, they used to approach nationalised banks for car loans," said the officer.

Since nationalised banks used to be in a hurry to provide loans on cars to fulfil assigned targets, bank officials usually conducted online verification of IDs.
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