GURGAON: A garment manufacturer was allegedly cheated of Rs 2.5 crore in June this year by fraudsters who promised him a business loan of around Rs 100 crore from private lenders. Though he filed a complaint in July, the FIR was registered only after investigation on September 26.
The victim, according to police, was facing a financial crisis in business and was in search of a financier. In May this year, he got in touch with Tarun Manchanda who introduced him to Vikram and Nitin Garg saying that they have good connections with a few financers in Hyderabad.
On May 27, Vikram and Nitin visited the victim’s office in Sector 34 and assured help in getting a loan of Rs 100 crore at an interest rate of 6% per annum. They asked him to share the company’s bank statement, finance projects, and some security. On May 31, they took him to Hyderabad and introduced him to several people who posed as financiers.
During one such meeting, they showed him a loan agreement of Rs 100 crore and assured to give him an initial loan of Rs 2.5 crore for a few weeks. After the amount was cleared, they offered to give him another loan of Rs 40 crore for five years.The accused also asked him to sign a loan agreement and hand over his property document for mortgage.
On June 9, the victim again went to Hyderabad and signed a loan agreement for Rs 40 crore. As directed, the manufacturer transferred the initial loan amount of Rs 2.5 crore and submitted his property papers.
“The accused left the meeting venue, asking me to wait for a few minutes. They were supposed to transfer the loan amount, but they disappeared,” said the complainant.
In July, the victim filed a complaint with the Economic Offences Wing of Gurgaon police and after investigation, the accused were booked for cheating and criminal conspiracy) at Sadar police station.
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The victim, according to police, was facing a financial crisis in business and was in search of a financier. In May this year, he got in touch with Tarun Manchanda who introduced him to Vikram and Nitin Garg saying that they have good connections with a few financers in Hyderabad.
On May 27, Vikram and Nitin visited the victim’s office in Sector 34 and assured help in getting a loan of Rs 100 crore at an interest rate of 6% per annum. They asked him to share the company’s bank statement, finance projects, and some security. On May 31, they took him to Hyderabad and introduced him to several people who posed as financiers.
During one such meeting, they showed him a loan agreement of Rs 100 crore and assured to give him an initial loan of Rs 2.5 crore for a few weeks. After the amount was cleared, they offered to give him another loan of Rs 40 crore for five years.The accused also asked him to sign a loan agreement and hand over his property document for mortgage.
On June 9, the victim again went to Hyderabad and signed a loan agreement for Rs 40 crore. As directed, the manufacturer transferred the initial loan amount of Rs 2.5 crore and submitted his property papers.
“The accused left the meeting venue, asking me to wait for a few minutes. They were supposed to transfer the loan amount, but they disappeared,” said the complainant.
In July, the victim filed a complaint with the Economic Offences Wing of Gurgaon police and after investigation, the accused were booked for cheating and criminal conspiracy) at Sadar police station.
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Mumbai: Seven held for cheating loan aspirant of Rs 5 lakh
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Seven people, including three women, have been arrested by the Mumbai crime branch for allegedly creating fake income tax returns, bank statements, and other documents to obtain credit cards for loan applicants. The accused charged a commission of 10 to 15% for their services and cheated one complainant out of over Rs 4.5 lakh. The police suspect that more such cases will emerge as the investigation progresses. Items recovered from the accused include mobile phones, credit cards, Aadhaar cards, debit cards, and SIM cards.