Delhi: Crime Branch busts bank loan fraud gang, 3 held in cheating case

New Delhi [India], January 1 (ANI): The Crime Branch WR-II team has busted a gang involved in bank loan fraud leading to arrest of three individuals, police said on Thursday.
The three accused have been identified Atul Agarwal, Ajay Chaurasia and Deepak Dhoundiyal.
The accused posed as government employees, prepared forged identity cards and fake income documents, and fraudulently obtained loans from various banks.
The case came to light following a complaint filed by Loknarayan Karotiya on behalf of finance company under Section 156(3) CrPC.
The accused submitted forged government employee ID cards and fake income certificates, falsely claiming to be working as Senior Audit Officers in the office of the Comptroller and Auditor General (CAG), Bahadur Shah Zafar Marg, Delhi, and obtained salaried personal loans, police said.
Following the default of the loan EMIs, an investigation revealed that the accused had never worked at the office in question. Accordingly, FIR dated September 9, 2022, was registered at PS Crime Branch under the relevant sections.
After several months of sustained efforts and technical surveillance, a crucial lead was developed. The team conducted raids at more than two dozen locations.
Following ongoing efforts, the accused's locations were identified, and all three were arrested at their respective residences.
The accused, along with their associates, used to lure people, prepare forged documents in their names, open bank accounts in different banks, and deposit money for a few months as "salary" from their fake company accounts.
As soon as the account became eligible for loan offers as a "salaried account," they applied for loans from banks. The loans were sanctioned based on forged documents.
After making EMIs for a few months, the accused would distribute the majority of the loan amount among themselves and give a small share to the person whose identity and documents were used to obtain the loan. (ANI)