The loan was used on behalf of Shakti while Rajeev acted as a mediator. Two of them, Rajeev and Azhar, have already been implicated in 12 bank fraud cases across the city, they said.
The deputy managing director of the Bank of Baroda in West Delhi lodged a written complaint with Vikaspuri Police Station in April this year after their investigation found that all office and residence addresses provided by the defendants were false, police said.
In his complaint, the bank official alleged that the accused had taken out a car loan of Rs 20 lakh from their branch in Vikaspuri on the basis of documents which turned out to be false and forged.
A team comprising Deputy Inspector (SI) Vikas Sahu, Police Chief Pawan and Constable Sandeep was formed under the supervision of Vikaspuri Station Officer Inspector Mahinder Singh Dahiya to investigate the incident. case.
A senior police officer said, “The loan was sanctioned by the bank based on the borrower’s tax returns and other residential and office documents. During the investigation, we found that the tax invoice and the insurance copy submitted by the accused borrower were false. ”
“Upon further investigation, it was revealed that the accused did not reside at the address given. All addresses and documents submitted while using the loan were also bogus. The cell phone s ‘turned out to be off because these numbers were issued on fake IDs, “the officer said.
Deputy Police Commissioner (West) Urvija Goel said the accused also opened an account with another bank in the name of KVS Automobiles Pvt Ltd in Gautam Budh Nagar to receive the loan amount.
However, it also turned out to be a fake, as there was no such business or showroom at the address given. After receiving the loan amount, the accused did not buy any cars and instead withdrew the entire amount through ATMs or transferred them to another account.
“During further investigation, it was also revealed that a total of 12 cases of fraud and cheating were reported by Bank of Baroda at various police stations in Delhi. Based on intelligence and with With the help of technical assistance, one of the accused was located and the four accused were found and arrested in this case, “she said.
Police said a car was worth Rs 30 lakh, Rs. 2.5 lakh in cash, three I-phones, a laptop and copies of false documents used to qualify for the loan were seized from them.