Mumbai Crime: MIDC cops arrest consumer loan fraudsters who duped many of lakhs

The accused Irfan Khan (left) and Santosh Shinde

After hunting for two consumer loan fraudsters for almost two months, the MIDC police have arrested the duo. The accused misused details of as many as 23 people who had secured bank loans through them, to buy electronic goods and resell them for their own profit. The accused have been identified as Sion resident Santosh Shinde, 32, who is an independent loan agent and Worli resident Irfan Khan, 30, who was employed with Croma Retail in Prabhadevi.

Also read - Thane: Builder duped of Rs 30 lakh on promise of getting loan

Their scam came to light about two months ago, when Jagdar Gurmeet Singh, manager of HDFC Bank, Andheri approached MIDC police station and said the bank has found a few consumer loan applications in which photographs of the applicants appeared the same. Cops then began their probe. A team that included API Sanjay Kandalkar and PSI Praveen Rathod was formed to investigate the case. Police started scanning the mobile number details.

Meanwhile, a few more victims approached them alleging that the bank is sending them pending EMI payment notices against consumer loans that they've not taken. But all of them remembered sharing their documents with Shinde for getting consumer loans. Close to two months after this, cops managed to nab Shinde on February 6.

Forging since...
Shinde told the cops in his statement that he has been forging documents of consumer loan applicants with Khan since March 2017. Shinde would hunt for people in need of these loans and then take their documents, stick his photo and add his mobile to them. He then took the documents and processed them with HDFC Bank in Andheri that had a tie-up with Croma Retail in Prabhadevi. Khan would help him in processing the documents with the bank. Once the loan got sanctioned, the duo would purchase electronic goods such as iPhones, laptops etc, which they would sell outside and divide the money equally between themselves.

Fired from job
Kandalkar said, "Khan was fired by Croma Retail, Prabhadevi about three months ago for some other fraud matter. During the time, the Croma manager was not aware of Irfan's consumer loan fraud." As for the duo's victims, 23 such cases have come forward, who were collectively cheated of '12.68 lakh. Police have booked the two under sections 420 (cheating) and 34 (common intention) of Indian Penal Code. Both were produced before the court and remanded police custody. DCP ND Reddy said, "These two could have duped many more people. We are further investigating the matter."

23
Number of victims that have come forward so far

Rs 13 lakh
The amount that the conmen have duped the victims of

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