Pune: Four held for cheating eleven banks, says police

Probe has revealed that the gang has, so far, procured car loan worth Rs 98 lakh from eleven banks

By: Express News Service | Pune | Published:February 14, 2017 4:40 am

The Crime Branch of the Pune City Police has arrested a gang of four, who allegedly submitted forged documents in various banks to procure a car loan. Probe has revealed that the gang has, so far, procured car loan worth Rs 98 lakh from eleven banks in Pune city, Aurangabad, Nashik, Ahmednagar, Panvel, Baramati, Chakan, Saswad, Shirur, Manchar and other places. Police have identified the suspects as Sachin Bharat Tivde (32) of Madhuban Colony, Pimple Nilakh, Ravi Ramchandra Zanke (47) of Pimple Gurav, Mozes Williams Madankar (37) of Kondhwa and Amit Prakash Tribhuvan (36) of Kondhwa.

Acting on a tip-off to Assistant Sub-Inspector Sambhaji Bhoite of the Crime Branch, a team led by Inspector Nitin Bhosale Patil laid a trap and arrested the four from Kondhwa area.

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As per a press release issued Monday, the suspects admitted to submitting forged documents in eleven banks in different places to procure car loan. Police said the suspects got Rs 98 lakh as car loan from these banks, but they did not purchase any car and also did not return the loan amount. Officials added that the four had distributed the money among themselves and used it for personal gains.

Probe further revealed that suspect Sachin Tivde of Pimple Nilakh is the kingpin. He has worked with a few financial companies in the past and was aware of the loan procedures. He, along with his aides, allegedly prepared fake documents to cheat the banks. He was earlier arrested in six cheating and forgery cases, but was later released on bail.

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