2 employees of finance company, three others held for loan fraud

LUCKNOW: The city police, on Sunday, claimed to have busted a gang involved in getting sanctioned home loans worth several crores from a city based finance company on the basis of fake registry of properties.

The police arrested five people including the gang’ s master mind and two employees of the finance company in the matter. The employees allegedly connived with the fraudsters in clearing loan requests.

Those arrested were identified as Avinash Kumar alias Honey, Mohd Atif, Rahul Bharati, Mahroof Khan, Sudhir Kumar and Sanjit Kumar. The police said Mohd Atif is the gang’s mastermind, who had connivance with two staff members Sudhir Kumar and Sanjit Kumar, of the city office of Chennai based Hinduja Housing Finance. Sudhir and Sanjit are sales officers in the finance company.

Additional superintendent of police (ASP), East, Sarvesh Kumar Mishra said the fraudsters were arrested on the complaint lodged at Ha z rat ganj police station by a senior official of the finance company, Vivek Verma, on Saturday. The ASP said the fraudsters revealed that A vin ash and his aide Ab his hek, who is still at large, used to arrange old registries of properties at prime locations in the city. He said they used to give it to Mohd At if, who in turn used to give them ₹1.5 to 2 lakh for each document.

He said Mohd Atif used the same documents to get loans sanctioned by presenting some fake person in place of the original owner. He said Mohd Atif used to get the loan request cleared on the basis of fake documents and fake owner in connivance with his two employees of the finance company.

Mishra said the finance com- pany staff, Sudhir and Sanjit, used toge tit cleared without verifying the documents properly and checking the owners’ genuineness. He said the company staff used to get 7 to 10 percent of commission of the loan amount for clearing the request while the fake owner used to get 40 percent of the loan amount.

He said the fraudsters used to pay 2-3 instalments of the loan and then disappear. He said the company authorities never managed to locate the person who took loan as his address and identity proof mentioned in the documents used to be fake.

The ASP said the fraudsters were committing similar frauds for the past five years and might have earned several crores. He said the company authorities conducted the internal inquiry and lodged the complaint after having suspicion ont hero leo fits two staff, who always remained involved in similar kind of loan clearance. He said other members of the gang were held on the information of the arrested staff members of the company.

THE ASP SAID THE MISCREANTS WERE COMMITTING SUCH FRAUDS FOR PAST FIVE YEARS & MIGHT HAVE EARNED MANY CRORES