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Four persons were booked today for allegedly cheating loan seekers to the tune of Rs 29.80 lakh by promising them credit from banks, police said.
The four accused included a former Shiv Sena corporator and a member of the city women wing of the party, a senior police official said.
The case was registered against the four under various sections of the IPC on the complaint lodged by at least eight victims.
Explaining the modus operandi of the accused, the officer said they used to promise getting personal and business loans from banks on a commission basis.
The accused are identified as Pawan Kadam, the former corporator, Rajashree More, Bhanumati Bhoir and Swapnil Bhoir.
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