Gang of cheats promising low interest bank loans busted

August 27th, 2008 - 12:43 am ICT by IANS  

New Delhi, Aug 26 (IANS) An interstate gang of cheats who duped people on the pretext of arranging easy and low interest bank loans was busted by the Delhi police, an official said Tuesday.“The gang had duped over 100 people belonging to several states of over Rs.6 million. The gang members, Neeraj Kumar Chauhan of Rajouri Garden, Amit Kumar Sagar and Sachin Kumar Nigam of Tagore Garden were arrested Monday from their houses,” said Neeraj Thakur, deputy commissioner of police, Crime Branch.

“They had advertised in various newspapers stating that they could offer loans from banks at low interest rates and for that they would charge commission of 1-2 per cent of total loan amount as their service charges in advance,” the official added.

The gang members would hire an office and publish their mobile numbers in advertisements.

After making enquiries on phone, people normally sent their property papers through couriers to their office and after some days the cheats would call the victims and ask them to deposit their service charges, as their loan would be sanctioned very soon, said Thakur.

They used their bank account numbers or took the service charges in cash. They also operated from an office for six months and then disappear after closing the office. They were operating since 2004.

They gang never entertained Delhi based loan seekers.

They were arrested on a complaint by Subhodip Ghosal, a Kolkata resident, who had complained to the police that he had been cheated by a loan-sanctioning agency, Gayatri Associates situated at Sant Nagar here.

He had deposited Rs.22,500 at their account in a bank but after sometime when he got no response from them, he got suspicious and complained to the police.

“During investigation, it was revealed that the gang had opened 14-15 offices in various places in Delhi and had opened 15 accounts in different banks. The gang leader Anuj Makkad had been operating from Jalandhar,” the police officer added.

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