Eight individuals were arrested for allegedly defrauding multiple banks to the tune of Rs 23 crore by running more than a dozen fake companies and taking loans using forged documents such as Aadhaar and PAN cards of non-existent employees, said police here on Tuesday.
The fake companies had opened the accounts of their non-existent employees and even deducted the provident fund (PF) from their salaries to ensure that the existence of the companies is not questioned by banks in making the loans, they said she.
The gang was apprehended by officials of the Phase 1 police station with the help of the local unit of the Special Task Force (STF) of the Uttar Pradesh Police, Deputy Commissioner of Police (Noida) Harish Chander said.
“Based on electronic surveillance, manual intelligence and confidential information, eight members of the gang have been arrested today for fraudulently borrowing from various banks by creating false documents and IDs of various individuals and private companies,” said Chander.
He said that the police here had received a complaint from the HDFC Bank alleging that some loans had been fraudulently taken from the bank in the name of bogus companies, prompting an FIR to be filed and an investigation launched.
“The gang targeted several banks such as HDFC Bank, ICICI Bank and Axis Bank. It had marketed and registered fake companies, with employees who only existed on paper except for some directors. They took loans from banks and showed that the fund has been used in giving salaries to the employees,” the DCP said.
“The defendants not only showed on paper that they paid salaries to the non-existent employees of these companies, but also showed deductions from the provident fund. They deposited some money into the PF accounts of these ghost employees from time to time to make sure make sure the banks don’t question them in lending,” Mr Chander said.
So far, the police have found that the fraudsters had marketed 13 bogus companies and fraudulently took a loan of Rs 23 crore from various banks and failed to pay it back, he said.
The detainees have been identified as Anurag Chatkara, Aman Sharma, Danish Chhibber, Wasim Ahmed, Mohsin, Jeetu alias Jitendra, Ravikant Mishra and Tanuj Sharma, according to the police.
Police said they recovered 395 checkbooks from different banks, 327 debit cards, 278 PAN cards and 93 Aadhaar cards in the names of different individuals.
In addition, a banknote counting machine, an identity card making machine, stamps from various companies, 187 mobile phones and three laptops were also found in the possession of the defendants, they said.
Police also seized Rs 1.09 lakh cash from the gang and seized three cars: Hyundai Aura, Hyundai i10 Nios and Kia Seltos, and two Royal Enfield motorcycles.
An FIR has been filed under the provisions of the Indian penal code for fraud, forgery and criminal conspiracy against the defendants, who have been sent to prison by the court, the police added.
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