24 November,2024 08:23 AM IST | Mumbai | Faizan Khan
The arrest was made by the Anti-Extortion Cell of the Mumbai Crime Branch. Representation pic
The Anti-Extortion Cell (AEC) of the Mumbai Crime Branch busted a bogus finance company and arrested two of its members, including the key accused. The accused allegedly extracted large sums as processing fees from customers under the pretext of providing them massive loans, said police.
The accused arrested by the AEC have been identified as Mohammed Dawood, alias Satish Chandrasekar, 32, and Thiru Vijaykumar, 47, both residents of Tamil Nadu.
The arrest follows a complaint made by a Mumbai businessman who claimed that he was cheated of R1 crore while attempting to secure a Rs 20 crore loan.
According to a source in the Crime Branch, the gang is believed to have defrauded 25 to 35 individuals across India.
The complaint, filed with the Mumbai Crime Branch by 48-year-old Manoj Poddar, alleges that he was duped into issuing demand drafts (DDs) totaling R96 lakh as processing fees for a R20 crore loan allegedly offered to him at a low interest rate.
According to the complaint, the transactions were orchestrated by a gang of fraudsters operating from Mumbai and Chennai, who used fake documents and identities to defraud their victims.
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Poddar said that the gang targeted him between August and September 2021. To carry out the scam, the accused rented a bungalow in Chennai, where they lured the victim. Using fake identity cards, forged documents, and false email addresses, they opened bank accounts to facilitate the fraud. Once R96 lakh was deposited into an account under the name of Transcapital Company, the funds were quickly transferred and withdrawn in cash to avoid detection.
According to the Crime Branch, the gang has defrauded multiple victims across Delhi, Jharkhand, Tamil Nadu, Karnataka and Maharashtra.
Earlier, other members of the gang, identified as Karthik Ravikumar, alias Kishore Srinivasan, Vicky Durairaj Naykar, and Narasimhan Ramdas, alias Shriram, were arrested by the Mumbai police.
2021
Year Mumbai-based businessman was duped
