Noida STF busts ₹100-cr loan fraud syndicate; 8 held

Noida: The Noida unit of Special Task Force (STF) has uncovered a large-scale loan fraud syndicate that allegedly colluded with builders and used forged documents to secure loans through profile funding. Officials said that the gang is involved in defrauding nearly ten banks of over Rs 100 crore. A case has been registered at Surajpur police station of Greater Noida in connection with the matter.

According to Rajkumar Mishra, Additional Superintendent of Police, STF (Noida Unit), a team led by Inspector Sachin Kumar arrested eight members of the syndicate. The accused have been identified as Ramkumar, Nitin Jain, Mohd. Wasi, Shamshad Alam, Indra Kumar Karmakar, Anuj Yadav, Ashok Kumar alias Deepak Jain alias Rinky, and Tahir Hussain.

During the operation, the STF recovered a massive cache of fraudulent and suspicious materials, including 126 passbooks, 170 debit cards, 45 Aadhaar cards, 27 PAN cards, 15 ID cards, 5 voter ID cards, 26 mobile phones, 3 laptops, and 3 luxury cars.

“Documents related to home and personal loans, along with property papers, were also seized. We have identified 220 bank accounts linked to the accused across ten different banks, all of which are being frozen,” said Mishra.

During interrogation, the accused confessed to creating fake identities and using fabricated documents to obtain home and flat loans from multiple banks before disappearing. The gang also allegedly collaborated with builders in Chandigarh, Uttarakhand, Delhi, and various districts of Uttar Pradesh to facilitate large-scale fraudulent profile funding, the ASP added.

The STF is continuing further investigation to identify additional accomplices and financial trails.