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Three arrested for cheating banks with forged documents

Business Finance

Press Trust of India  |  New Delhi 

Three men were arrested for allegedly cheating various banks by opening accounts using forged documents and later getting away after taking credit card and loans, police said Saturday.

The accused were identified as Sarvan Kumar (27), a resident of Prahlad Vihar, Rohini, Manish Tiwari (30), a resident of Mohan Garden and Mohit Kumar (38), a resident of Baljeet Nagar, police said.

Most of the loans were pre-approved, applied through online route, as according to the bank policies and RBI guidelines no KYC documents are demanded at the time of loan sanction. After obtaining the loan they fled, Rajiv Ranjan, Additional Commissioner of Police (Crime), said.

The accused have cheated the Axis Bank, HDFC Bank, IndusInd Bank, SBI, RBL, ICICI Bank, Bank of Baroda and other banks, he added.

Total 22 PAN cards, nine Aadhar cards, 21 voter cards, four driving licenses, 38 debit/credit cards, 15 mobile phones, multiple photographs and details of more than 100 bank accounts, one laptop and one motor cycle were recovered from their possession, he said.

Two cases were registered at Sabzi Mandi and Barakhamba Road police stations. The officials of HDFC bank had noticed that 14 accounts had been opened under different names and had the same applicant's photograph, Ranjan said.

The cheats had managed to generate a fake trail of transactions within these bank accounts and then had applied for credit cards, he said.

They had also applied for personal loans and after obtaining the loans the applicant had vanished. The KYC details were found to be fake and the contact numbers were all shut down, the officer added

The accused have cheated Rs 62 lakh from Sabzi Mandi branch and Rs 20 lakh from Barakhamba Road branch of the HDFC bank, Ranjan said.

During investigation, police received a tip-off on Friday that the alleged gang was operating from Baljit Nagar, Delhi, the officer said.

A trap was laid near Patel Nagar Metro station and Sarvan and Manish were apprehended. Later, Mohit was also apprehended, he added.

During interrogation, they disclosed that one Mehboob and Abhishek were the brains behind the racket. They supplied the forged documents to accused persons which were used to open bank accounts, Ranjan said, adding police are trying to arrest them.

After opening several banks accounts, the gang used to maintain balances by rotating cash from one account to another, he said.

When they became eligible for various cards and loan offers from the banks, they used to apply for loans and cards through net banking, Ranjan added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, January 12 2019. 23:05 IST