Cheats who duped on the pretext of loan arrested

Two persons have been arrested for allegedly cheating people on the pretext of providing them loans at lower than market rate, police said today.
The accused had floated a private finance company and used to charge five percent of the loan value desired to be sanctioned, DCP (Northwest) Vijay Singh said.
The two arrested persons have been identified as Ajay Kumar (26) and Vikas Verma (36), Singh said, adding that there were more persons suspected to be involved with them.
According to police, a resident of northwest Delhi's Rani Bagh area had lodged a complaint with the police on August 30 in which he had claimed that he approached the company for a loan of Rs six lakh. The complainant had to pay Rs 3,100 as file charges and, later, a fee of Rs 30,000, which is five percent of the loan amount.

As per the complaint, the persons, who claimed to be managers there, signed as many as six cheques in the name of the complainant, but the account number mentioned in them were found to be incorrect.
They told the complainant that they would get the account number corrected and transfer the money to his bank account. When they failed to do so, the complainant started calling them up but their phones were switched off.

The complainant then went to the finance company's office and found it closed, following which he reported the matter to the police.
"Based on a tip-off, the police received a trap and the accused were arrested from near Pitampura metro station within 24 hours. The police recovered around Rs 1 lakh cash from their possession," said Singh.

The duo have so far confessed to have cheated around 30 people, Singh added.