Bhayandar cops nab man for loan fraud using another person's EMI card

Sleuths of the Navghar Police in Bhayandar arrested a 23-year-old youth in connection with a fraud in which the details and forged documents of a person's equated monthly instalment (EMI) card of a non-banking financial company was used to buy a smartphone worth more than Rs. 72,000.

According to the police, the complainant, who works as a video editor was shocked when he received a text message containing the repayment schedule of a mobile phone that he never purchased.

The complainant learnt that the purchase was made at an electronic showroom in Kandivali. He immediately alerted the showroom and visited it the following day where he was shown the copy of his pan card, but with someone else’s photograph on it.

The cheat ran out of luck when he visited the showroom on Thursday.

The photograph of the suspect apparently matched the one which was used on the card. The showroom staffers then nabbed him and handed him over to the Navghar police in the presence of the complainant.

A case under section 420 of the IPC has been registered against the accused (name withheld as a precautionary measure to nab his accomplices) at the Navghar police station.

The card provided by a reputed finance company comes with a pre-approved loan limit and lets the buyer convert purchases into easy monthly instalments.