Mumbai News: Andheri Police Book 4 For ₹1.66 Crore Loan Fraud Using Fake Applications
Andheri police have registered an FIR against four persons for allegedly cheating a finance company of ₹1.66 crore using fake loan proposals. The accused submitted 130 files, of which 78 were fraudulent, using fake emails to claim commissions. The fraud surfaced during verification, and a complaint by a company executive led to the case.
Mumbai News: Andheri Police Book 4 For ₹1.66 Crore Loan Fraud Using Fake Applications | Representative/ FPJ Photos
The Andheri police on March 18 registered an FIR against four persons for allegedly cheating a finance company of ₹1.66 crore by sending fake loan proposals. The suspects allegedly created 78 fake loan emails and sent them to Ruloans Distribution Services Private Limited, a financial services provider that facilitates loan approvals from banks.
Company’s Loan Processing System Explained
According to the FIR, Ruloans, with office in Andheri East, processes loan applications through direct customer contact or hired vendors, providing commissions for each processed loan.
Accused Entered As Vendor
One of the suspects, Mukesh Podar, approached the firm seeking work as a vendor. The agreement was eventually registered in the name of his brother, Rupushkumar Podar. Mukesh Podar also informed the company of four partners in Gitika Secure Future Life, including Gitika Chiba and Samriti. Under a 2020 agreement, this entity received commissions for customer loans.
Initial Genuine Applications Built Trust
Initially, the suspects submitted genuine applications to gain the company’s trust. However, they later began submitting fraudulent files.
Fake Loan Files Submitted Over Years
Between 2020 and 2024, the suspects submitted 130 loan files and received commissions for all of them.
ALSO READ
Discrepancies Surface During Verification
Discrepancies later emerged. Upon contacting banks, the company discovered that 78 of the 130 files had never been submitted. Instead, the suspects allegedly created fake emails for these applications to fraudulently obtain commissions amounting to ₹1.66 crore. When confronted, Podar reportedly admitted to creating the fake files.
Complaint Leads To FIR
Based on a complaint by Amit Singh, 26, a legal executive with the company, the Andheri police registered an FIR against the four suspects under Section 120-B (criminal conspiracy) and other relevant provisions of the Indian Penal Code.
To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/
RECENT STORIES
-
-
-
-
-