Mumbai: Constable, accomplices held in loan scam case

Using CCTV footage, the police traced and apprehended the accused

Three individuals, including a police constable from Thane, were apprehended by the Kasturba Marg police on Saturday in connection with an alleged loan scam. The complainant, a city-based businessman, had approached the accused seeking a loan of Rs 2 crore and had paid Rs 20 lakh for formalities.

The accused have been identified as Prince Mahendra Singh, alias Bahadur or Rahul, 32, who has a prior criminal record of cheating and robbery cases at Byculla, Charkop and Kanjurmarg police stations; Ajay Singh, alias Ajay Jaiswal, 41, who has no previous criminal record; Akeel Shareef Ahmed has a robbery case registered at Bandra police station; and constable Binod Narayan Kute, who was posted at the Thane police headquarters. He had two previous cases registered against him in Kalyan. He was suspended from the force a couple of years ago and was reinstated.

The 56-year-old complainant, a resident of Ville Parle and engaged in the real estate sector, had expressed his intention to secure a loan of Rs 2 crore to establish a construction and film finance firm. He established contact with Ajay Singh through the social media platform LinkedIn in 2019.

After discussing the loan over the phone, they arranged a meeting at a mall in Thane. During this meeting, Singh introduced Bahadur Singh as his associate. Subsequently, the trio convened at a bar and restaurant, engaging in negotiations over a meal.

Singh assured the complainant that he could arrange the desired loan from a private institution, with a monthly interest rate of 1 per cent. He also informed the complainant that he needed to provide an advance of 10 per cent of the expenses to secure the loan, amounting to R20 lakh. The complainant agreed to these terms.

On July 26, Singh called the complainant and asked him to meet in Borivli East. But, he sent his associate Bahadur to meet the complainant. When they met, it started raining and the complainant handed his bag containing Rs 20 lakh over to Bahadur so that he could open his umbrella. As they were walking, the constable, in uniform, approached them in a rickshaw. He grabbed Bahadur's shirt and forced him into the rickshaw, claiming that they needed to visit the police station.

Despite the complainant's attempts to intervene, he was unable to stop them in time. He raised an alarm, but the culprits managed to flee the scene. The incident was reported to the Kasturba Marg police. Utilising CCTV footage from the vicinity, the police traced and apprehended the police constable and his accomplices on August 5. The three have been remanded in police custody until August 8.

Rs 2 crore
Loan the complainant was seeking