By opening fake accounts

A 32- year- old man was arrested for allegedly cheating banks by opening fake accounts and later running away after taking credit cards and loans, police said on Saturday.

The accused was identified as Sanjeet Kumar, a resident of Vaishali in Bihar.

To open fake accounts, the accused had taken three houses on rent at Badarpur and opened 3540 fake saving bank accounts. They had also issued a swipe machine for the purpose of swiping credit cards.