FPJ Cyber Secure: Finance Company Employee Arrested For Loan Scheme Fraud

Mumbai: The Vitthalbhai Patel (VP) road police station has arrested a 24-year-old employee of a private finance company for forcefully depositing Rs1.87 lakh into a complainant’s bank account under the guise of a loan.

The incident came to light when the complainant, Amit Khedekar, 42, a resident of Girgaon, sought a loan for personal work. He went to Google and provided his personal information in the process of taking an online loan. It was during this time that the accused, Sagar Gupta, discovered Khedekar's loan application and contacted him, enticing him with a loan at a significantly lower interest rate. Believing Gupta's claims, Khedekar entrusted his loan-related documents to him. Subsequently, Rs1.87 lakh was deposited into Khedekar's bank account. However, the complainant soon received a notification indicating that the interest rate on the loan was higher than what Gupta had initially promised and reached out to him to cancel his loan. However, the accused revealed that since he was also in need of a loan, he would transfer the loan in his name. Subsequently, he deposited the loan amount from Khedeker’s bank account to his own and sent fabricated loan transfer documents to the complainant. Initially, the accused made loan instalments for three months before abruptly ceasing payments. When a bank employee contacted Khedekar regarding the unpaid instalments, Khedekar realised that he had been cheated.

Following a complaint at the VP road police station, the accused was subsequently arrested in Santacruz.