Fraudster held for duping banks of Rs 8-crore

Noida: Noida Special Task Force (STF) police team has arrested a wanted criminal, carrying bounty of Rs 25,000 on his head, who allegedly duped various banks to the tune of Rs eight crore as he financed over 60 cars against fake documents.

Police said that the accused produced fake documents on the name of a Greater Noida based firm, said STF officials.

According to police, the accused had been identified as Rajat Kulshreshtha (34), a resident of Antriksh Golf view society of Noida. Cops said that over half a dozen cases of fraud were registered against the accused in Agra district.

Raj Kumar Mishra, Deputy Superintendent of Police, Noida STF said that the accused had floated a fake automobile company with its address in Greater Noida while he had financed several car loans with banks but the cars were never bought. "Kulsheshtra, along with his friend, had duped banks to the tune of Rs 8 crores as he financed around 61 cars within a span of past three years on the basis of forged documents. The accused had formed fake company while they hired few staffers who responded to calls where they tried to pose it as authentic," said Mishra.

The officer further said that the gang had submitted forged documents including quotations for vehicles costs, payslips of staff, and other documents to obtain loans.

"The accused has been booked under Indian Penal Code (IPC) sections 420 (fraud), 467 (forgery) and related offences while nearly seven cases have been registered against in at various police stations in Agra district." "The accused has been arrested and produced before the Agra police for further proceedings," added Mishra.